Marqeta (MQ) falls after Q1 call despite revenue, profit beats

Marqeta (MQ) shares fell to $4.06 from $4.48 before its first-quarter earnings call, even after the payments platform reported revenue and profit above Wall Street expectations. Management cited continued growth in buy now, pay later and expense management as key drivers. CEO Mike Milotich said operating leverage helped Marqeta achieve GAAP profitability, while emphasizing demand for the company’s card-issuing and payments platform. The company also flagged pressure on gross profit margins from business mix and slower growth in financial services. Management said some investment initiatives, including international programs, secured credit and stablecoin-linked card offerings, ramped more slowly than planned. Investors are watching whether those products can scale while BNPL and expense management growth mature.