OAKLAND, Calif. (AP) — OAKLAND, Calif. (AP) — Marqeta Inc. (MQ) on Tuesday reported first-quarter net income of $7.8 million.
On a per-share basis, the Oakland, California-based company said it had profit of 2 cents.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The transaction processing services provider posted revenue of $165.8 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $164.3 million.
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