(Reuters) –Payments company Marqeta Inc reported a 76% jump in second-quarter revenue on Wednesday that beat market estimates, as the company benefited from a surge in transactions made through its platform.
Net revenue rose to $122.27 million for the quarter ended June 30, from $69.4 million a year earlier.
Analysts on average were expecting revenue of $99.75 million, according to IBES data from Refinitiv.
The company’s net loss widened to $68.55 million, or 29 cents per share for the quarter, from $7.1 million, or 6 cents per share, a year earlier, due to higher employee-related costs.
(Reporting by Sohini Podder in Bengaluru; Editing by Shailesh Kuber)