05:53 AM EDT, 05/08/2024 (MT Newswires) -- Marqeta ( MQ ) posted a Q1 net loss Tuesday of $0.07 per diluted share, narrowing from a loss of $0.13 a year earlier.

Analysts polled by Capital IQ expected a loss of $0.08.

Revenue for the quarter ended March 31 was $118 million, down from $217.3 million a year earlier.

Analysts surveyed by Capital IQ expected $117.2 million.

Shares of the payment card platform were up almost 4% in Wednesday's premarket activity.

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