Marqeta Inc (NASDAQ:MQ) shares are trading higher by 11.80% at $12.43 Thursday morning after the company announced it expects to outperform its previously announced fourth-quarter net revenue and adjusted EBITDA guidance and appointed Mike Milotech as its new CFO.
Milotich joins Marqeta following a decade-long tenure at Visa in various financial leadership positions, most recently serving as Senior Vice President of Investor Relations and Corporate Finance. Marqeta says Milotech has more than 20 years of experience in corporate finance, the majority of which falls in payments and financial services. He has also held leadership positions at American Express and PayPal.
In Marqeta’s third-quarter earnings release last November, the company provided financial guidance for net revenue and adjusted EBITDA for the fourth quarter ending December 31, 2021.
Marqeta says, in light of higher-than-expected processing volumes, the company expects to outperform the previously announced guidance for both its net revenue and adjusted EBITDA for the fourth quarter. Marqeta says the company will release its actual results for the fourth quarter and full year of 2021 on March 9, 2022.
Marqeta has a 52-week high of $37.90 and a 52-week low of $9.38.