RTTNews | Aug 12, 2021 10:16AM EDT

10:16 Thursday, August 12, 2021 (RTTNews.com) - Shares of modern card issuing platform Marqeta, Inc. (MQ) are down 14 percent on Thursday's trading as the company posted wider loss in the second quarter, mainly hit by increased employee-related costs.

During the three-month period, the company reported net loss of $68.5 million or $0.29 per share, compared to net loss of $7.1 million or $0.06 per share a year ago.

Net revenues, however, soared 76 percent to $122.3 million from $69.4 million in the same period last year, while analysts were looking for revenues of $108 million for the period.

Currently at $25.41, the stock has traded between $23.83 and $32.75 during the 52-week range.

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