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☆ Toyota posts nearly 20% drop in second-quarter operating profit, missing estimates
▼ + stars: | 2024-11-06 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Japanese automaker Toyota Motor on Wednesday reported its first quarterly operating profit drop in about two years, as it strives to navigate the market shift toward electric vehicles. Revenue : 11.44 trillion yen vs. 11.41 trillion yen: 11.44 trillion yen vs. 11.41 trillion yen Operating profit: 1.16 trillion yen vs. 1.24 trillion yenThe world's largest automaker by sales volume saw a 20% year-on-year drop in operating profit during the quarter. Net profit attributable to company more than halved to 573.7 billion yen from 1.28 trillion a year ago. "If electric vehicles simply become the only choice, including for our suppliers, those people's jobs would be lost." The company maintained a full-year operating profit of 4.3 trillion yen.

Persons: Akio Toyoda, Toyoda, Suzuki Organizations: Toyota, Toyota Motor, LSEG ., Reuters, National, Traffic Safety Administration, Japan's Transport, Ministry of Land, Transport, Honda, Yamaha Locations: Tokyo, Japan, Infrastructure, Tourism

☆ AMC Entertainment posts revenue decline due to fewer big releases
▼ + stars: | 2024-11-06 | by ( ) www.cnbc.com time to read: +1 min

An AMC theater is pictured in Times Square in the Manhattan borough of New York City. AMC Entertainment on Wednesday reported a fall in third-quarter revenue and saw a decline in attendance at its theater chain, hurt by fewer blockbuster releases from Hollywood studios. Revenue for the third quarter stood at $1.35 billion, down 4.1% from $1.41 billion, a year ago. Analysts expected revenue of $1.33 billion, according to data compiled by LSEG. AMC reported a net loss of $20.7 million for the quarter ended Sept. 30, compared to net earnings of $12.3 million, a year ago.

Persons: Adam Aron Organizations: AMC, AMC Entertainment, Hollywood, Revenue, LSEG Locations: Manhattan, New York City, , Kansas

☆ E.l.f. shares soar as cosmetics retailer raises guidance after posting 40% sales gain
▼ + stars: | 2024-11-06 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Beauty raised its full-year guidance on Wednesday after posting a 40% growth in sales. Sales rose to $301 million, up about 40% from $216 million a year earlier. raised its full-year revenue guidance from a previous range of $1.28 billion to $1.3 billion and also raised its adjusted earnings guidance. The retailer is expecting adjusted earnings to be between $3.47 to $3.53 per share, up from a prior outlook of between $3.36 and $3.41 per share. Analysts had been looking for earnings guidance of $3.51, according to LSEG.

Persons: we're, Tarang Amin, Amin, Donald Trump Organizations: LSEG, Gen Alpha, CNBC, Target, Walgreens Locations: U.S

☆ These S&P 500 stocks are cheap and expected to do well from here
▼ + stars: | 2024-11-06 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Cheap stocks still remain for investors to buy, despite the equity market persisting near its all-time highs. Strong economic growth and the commencement of an interest rate reduction cycle have propelled stocks to new heights this year, with the benchmark S & P 500 index up 21% in 2024, as of Tuesday's close. CNBC Pro recently screened data from LSEG to find the stocks in the S & P 500 that are currently priced at a discount and could see outperformance going forward. Industrial company 3M has already risen 38% this year but could climb another 15%, according to its average price target. Other names on the list of cheap but promising stocks included technology titan Alphabet , conglomerate Berkshire Hathaway and airline carrier United Airlines .

Persons: Wells Fargo, TD Cowen, Ryan Langston Organizations: Dow Jones Industrial, Nasdaq, CNBC Pro, Citigroup, Universal Health Services, SDP, Universal Health Services . Industrial, 3M, LSEG, Berkshire Hathaway, United Airlines Locations: Monday's

☆ CVS posts mixed results, holds off on guidance in Joyner's first earnings report as CEO
▼ + stars: | 2024-11-06 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

CVS Health on Wednesday reported mixed third-quarter results as higher medical costs squeezed its bottom line. The earnings report is CEO David Joyner's first at the helm of the troubled retail drugstore chain. CVS will provide commentary on what it expects "directionally" during its earnings call, the spokesperson said. "Establishing credibility and earning the trust of our investors is one of my top priorities as the new leader of CVS Health," Joyner said in a statement. CVS expects those premium deficiency reserves "to be substantially released" during the fourth quarter, which will benefit results in that period.

Persons: David Joyner's, Joyner, " Joyner, Steve Nelson, Nelson, Prem Shah, Karen Lynch Organizations: CVS Health, CNBC, CVS, Aetna, UnitedHealth, LSEG

☆ Novo Nordisk quarterly profit meets expectations as Wegovy maker narrows full-year guidance
▼ + stars: | 2024-11-06 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

Novo Nordisk on Wednesday reported third quarter earnings broadly in line with expectations and narrowed its 2024 full-year growth guidance. The Danish pharmaceutical giant said that its net profit in the third quarter hit 27.3 billion Danish kroner ($3.92 billion), above an LSEG aggregate estimate of 26.95 billion Danish kroner. EBIT — earnings before tax and income — came to 33.8 billion Danish kroner, also just above the LSEG forecast of 33.51 billion Danish kroner. The guidance reflected the company's expectations for sales growth in North America and internationally, which is largely driven by volume growth of treatments based on Glucagon-like peptide-1 (GLP-1), Novo Nordisk said. Novo Nordisk added that it was investing in capacity both internally and externally to increase supply in the short- and long-term.

Persons: —, — CNBC's Annika Kim Constantino Organizations: Novo Nordisk, Wednesday, Novo, Nordisk, U.S . Food, Drug Administration Locations: Danish, North America, Novo, U.S

☆ Tesla could reach $1 trillion in market cap under a Trump win, says analyst Dan Ives
▼ + stars: | 2024-11-06 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

A possible Trump victory could spell massive gains for Tesla over the coming months, according to Wedbush Securities' Dan Ives. The analyst thinks the electric vehicle maker can pass the $1 trillion market cap threshold if the Republican nominee comes out on top in the U.S. presidential election. "This could ultimately add $40 to $50 per share to Tesla's stock right off the bat, and we could now be talking about a $1 trillion [or] $1.5 trillion market cap for Tesla." Tesla, which is up just 1% for the year, has a market cap of $807.1 billion through Tuesday's close. "Ultimately, I think Tesla is the most undervalued AI name in the market," he also said.

Persons: Tesla, Dan Ives, Kamala Harris, Ives, Trump, Musk Organizations: Trump, Wedbush Securities, Republican, U.S, NBC, Electoral College

☆ Stocks making the biggest moves midday: Super Micro Computer, Tesla, Coinbase, Planet Fitness and more
▼ + stars: | 2024-11-06 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Crypto stocks — Cryptocurrency-related names soared after investors bet that a Trump presidency would lead to a more supportive regulatory environment. Cannabis stocks — Shares of cannabis companies dropped after voters rejected a Florida ballot measure to legalize the sale and use of marijuana in the state. Dollar Tree and Dollar General also respectively lost more than 6% and 5%. Steel stocks — U.S.-based steel stocks rallied on the back of Trump's victory. Shares of Nucor and Cleveland-Cliffs respectively rallied 16% and 20%, while United States Steel climbed 8%.

Persons: Donald Trump, Donald Trump's, Trump, Tesla, bitcoin, Goldman Sachs, Wells, Joe Biden's, Sunrun, Wegovy, CoreCivic, Trump's, — CNBC's Michelle Fox, Alex Harring, Hakyung Kim, Sarah Min, Samantha Subin Organizations: Republican, Trump Media & Technology, Bank, Citigroup, Bank of America, Wells Fargo, CVS Health, CVS, Trump, SolarEdge Technologies, Enphase Energy, Novo Nordisk —, Novo Nordisk, — Geo, White, Aurora Cannabis, —, CNBC, Holdings, Steel, U.S, Cliffs, United States Steel Locations: Novo Nordisk — U.S, Danish, Florida, Tilray, U.S, Canada, China, Cleveland

☆ Qualcomm pops 10% on chipmaker's earnings and revenue beat
▼ + stars: | 2024-11-06 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Qualcomm reported fourth-quarter earnings on Wednesday that beat Wall Street expectations for earnings and revenue, and the company guided to a strong December quarter. The company reported $2.92 billion in net income, or $2.59 per share, a sharp jump from last year's $1.49 billion, or $1.23 per share. Qualcomm reported $33.19 billion in total revenue in its fiscal 2024, a 9% increase from 2023. Qualcomm reported a 12% increase in handset chip sales to $6.1 billion, in line with FactSet estimates. The company's profitable technology licensing business, QTL, reported $1.52 billion in revenue, a 21% increase over the same period last year.

Persons: Akash Palkhiwala, Cristiano Amon Organizations: Qualcomm, Apple, Nvidia, Quest, Microsoft

☆ Bernstein upgrades shares of eBay, says buy the post-earnings dip
▼ + stars: | 2024-11-05 | by ( Sean Conlon | ) www.cnbc.com time to read: +1 min

Bernstein thinks investors shouldn't give up on eBay despite a recent sell-off. For 2026, Devnani thinks that can expand to 3%. With earnings per share and margins set to expand as a result of this, the analyst believes that a recent sell-off provides an attractive entry point for investors. EBAY YTD mountain EBAY, year-to-date Last week, the stock fell 8% on the heels of a weaker-than-expected forecast for the current quarter . Of the 34 analysts covering eBay, 22 have a hold rating on it; 10 others rate it a buy or strong buy.

Persons: Bernstein, shouldn't, Nikhil Devnani, Devnani Organizations: eBay, EBAY

☆ Burger King parent Restaurant Brands falls short of third-quarter expectations
▼ + stars: | 2024-11-05 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

A new Burger King restaurant under construction in Tortosa, Spain, following the current expansion of Restaurant Brands International Inc. - the parent company of BK- in new and existing markets. Restaurant Brands International on Tuesday reported quarterly earnings and revenue that missed analysts' expectations as domestic same-store sales growth for all four of its chains fell short of Wall Street estimates. Burger King, Firehouse Subs and Popeyes all reported same-store sales declines in their home markets. But the Canadian coffee chain still fell short of Wall Street's same-store sales growth expectations of 4.1%, based on StreetAccount estimates. Outside of the U.S. and Canada, Restaurant Brands' international same-store sales rose 1.8% in the quarter, just shy of estimates of 2.2%.

Persons: Burger, Popeyes, Tim Hortons Organizations: Burger King, Restaurant Brands, Inc, BK, LSEG, Brands Locations: Tortosa, Spain, China, U.S, Canada

☆ Yum Brands earnings miss estimates as KFC, Pizza Hut report same-store sales declines
▼ + stars: | 2024-11-05 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Yum Brands on Tuesday reported quarterly earnings and revenue that missed Wall Street's expectation as same-store sales at KFC and Pizza Hut slid more than expected. Yum's worldwide same-store sales fell 2% in the quarter, dragged down by weaker performances at KFC and Pizza Hut, which both reported same-store sales declines of 4%. KFC's U.S. same-store sales slid 5% this quarter. The pizza chain saw its international same-store sales shrink 6%, while U.S. same-store sales fell just 1%. Taco Bell, the gem of Yum's portfolio, reported same-store sales growth of 4%.

Persons: Yum, David Gibbs, Popeyes, Taco Bell Organizations: Yum Brands, KFC, LSEG, KFC's, U.S Locations: China, U.S

☆ Stocks making the biggest moves premarket: Trump Media, Hims & Hers, Palantir and more
▼ + stars: | 2024-11-05 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +5 min

Palantir reported 10 cents earnings per share on $726 million in revenue. On the other hand, NXP's third-quarter earnings beat analysts' expectations by 2 cents per share, while its $3.25 billion revenue was in line with estimates. Hims & Hers Health — The telehealth stock popped 7.2% after third-quarter earnings exceeded expectations of analysts polled by FactSet on both lines. On the other hand, the company's $3.19 billion revenue missed estimates of $3.20 billion. Marqueta's $128 million revenue was just shy of the $128.1 million consensus from FactSet.

Persons: Donald Trump, Palantir, Rick Dreiling, Michael Creedon, FactSet, LSEG, Burger King, machinists, Astera, — CNBC's Michelle Fox, Alex Harring, Hakyung Kim, Yun Li, Sarah Min, Pia Singh Organizations: Trump Media & Technology, Republican, White, LSE, NXP, Wynn Resorts, Lattice Semiconductor, DuPont de Nemours, Restaurant, Burger, LSEG, Revenue, Diamondback Energy, Boeing —, Labs, Deutsche Bank, UBS, Deutsche Locations: Netherlands, Americas, Europe, San Francisco, Cleveland, Wells Fargo

☆ Palantir shares jump 23% to record on uplifting guidance
▼ + stars: | 2024-11-05 | by ( Todd Haselton | ) www.cnbc.com time to read: +2 min

Palantir shares jumped 23% on Tuesday and headed for a record close after the data analytics software maker reported robust third-quarter results and issued uplifting revenue guidance. If the gain holds, it will mark the stock's biggest jump since Feb. 6, when shares popped 30%. Revenue climbed 30% to $726 million from a year earlier, topping the $701 million average analyst estimate, according to LSEG. Net income of $143.5 million, or 6 cents per share, was up from $71.5 million, or 3 cents per share, in the same quarter a year ago. Palantir is targeting more than $687 million in U.S. commercial revenue for the year, implying about 24% of the total.

Persons: Alex Karp, Palantir, LSEG, Jordan Novet, Michael Bloom Organizations: Palantir, Bloomberg, Revenue, Deutsche Bank, Bank of America Locations: Palo Alto , California

☆ Super Micro says board found 'no evidence of fraud,' still has no timetable for annual results
▼ + stars: | 2024-11-05 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. Super Micro shares plummeted last week after Ernst & Young, the company's auditor, resigned. CEO Charles Liang said Super Micro was actively in the process of hiring a new auditor. Super Micro shares soared 246% last year after jumping 87% in 2023. WATCH: Super Micro shares down on earnings

Persons: Charles Liang, unaudited, Ernst & Young, Ernst, Liang, LSEG Organizations: Super, Computer Inc, Nasdaq, Super Micro, Micro, SEC, Ernst, Company Locations: Taipei, Taiwan

☆ Nintendo profit plunges 69% as it cuts forecast for sales of ageing Switch console
▼ + stars: | 2024-11-05 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Nintendo on Tuesday cut forecast for Switch sales for its fiscal year ending March 2025 as demand wanes for its ageing console. The operating profit outlook for the period was slashed from 400 billion yen to 360 billion yen. Here's how Nintendo did in its fiscal second quarter ended Sept. 30 versus LSEG estimates:Revenue : 276.7 billion Japanese yen ($1.8 billion), compared with 273.34 billion yen expected. : 276.7 billion Japanese yen ($1.8 billion), compared with 273.34 billion yen expected. Net profit: 27.7 billion yen, versus 48.06 billion yen expected.

Persons: Mario Organizations: NINTENDO, Universal Studios Hollywood, Nintendo, Revenue Locations: Universal City , California

☆ DuPont's biggest businesses get stronger and a key catalyst may arrive sooner than thought
▼ + stars: | 2024-11-05 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Operating EBITDA of $857 million in the quarter came in ahead of the $818 million consensus, according to FactSet. DuPont's performance on profitability metrics shined, with the better-than-expected operating EBITDA and earnings results for the quarter compounded by an increase to management's full-year outlook on both metrics. Quarterly results Another reason to look past the light water-and-protection sales: Operating margins at both of the core business units were ahead of expectations. For the electronics-and-industrial segment, management said operating EBITDA was helped, in part, by increased volume gains along with savings from productivity and restructuring actions. The operating EBITDA guide was raised to about $3.125 billion, up from a prior range of $3.06 billion to $3.11 billion.

Persons: we've, EBITDA, aren't, It's, Ed Breen, DuPont, —, Jim Cramer's, Jim Cramer, Jim, Jeff Fusco Organizations: DuPont, Club, PPG Industries, Management, Analysts, CNBC Locations: China, Wilmington , Delaware

☆ Stocks making the biggest moves midday: Tesla, Coinbase, Wynn Resorts, Palantir and more
▼ + stars: | 2024-11-05 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Archer-Daniels-Midland — The food processor slumped 8% after its fiscal third-quarter and full-year earnings outlook missed analysts' estimates. Hims & Hers — Shares of the telehealth company gained 7% after better-than-expected third-quarter results surpassed analysts' estimates for profits and revenue. Palantir — The data analytics software maker surged more than 22% after posting strong third-quarter earnings and issuing upbeat revenue guidance . DuPont de Nemours — Stock in the chemicals company gained more than 6% after third-quarter earnings beat Wall Street estimates. DuPont reported adjusted earnings per share of $1.18 per share, while analysts surveyed by LSEG forecast $1.03.

Persons: Donald Trump, Archer, Burger, LSEG, MicroStrategy, Astera, Tesla, —, Macheel, Samantha Subin, Alex Harring, Hakyung Kim, Sean Conlon Organizations: Trump Media & Technology, White, Nvidia —, Nvidia, Dow Jones, Daniels, Midland, ADM, FactSet, Restaurant, LSEG, Wynn, —, Lattice Semiconductor, Cirrus, DuPont de Nemours — Stock, DuPont, Astera, Diamondback Locations: Cleveland

☆ The stocks most at risk if Trump permits Elon Musk to drastically cut government spending
▼ + stars: | 2024-11-05 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Due to this, Piper Sandler has unveiled a list of stocks that it views as most sensitive to government spending. "If Trump wins, these stocks are likely to be hurt by cuts in government spending," Piper Sandler's chief investment strategist Michael Kantrowitz said in a recent note to clients. The company was the top recipient of defense contracts from the Department of Defense in fiscal 2023, being awarded $61.4 billion in defense spending. During September's presidential debate, Trump clashed with Harris over funding efforts, with Harris accusing Trump of being prepared to abandon consistent U.S. support for Ukraine . In that area, Humana , which offers Medicare Advantage plans, and UnitedHealth are two names Piper Sandler thinks could be affected.

Persons: Trump, Donald Trump's, Elon Musk, Musk, Piper Sandler, Piper, Michael Kantrowitz, Kamala, Harris, machinists, Lockheed Martin Organizations: U.S, SpaceX, Republican, Trump, Boeing, Lockheed, Department of Defense, Ukraine, Humana Locations: U.S

☆ AppLovin's 300% surge in 2024 leaves ad-tech company with big expectations for earnings
▼ + stars: | 2024-11-04 | by ( Cj Haddad | ) www.cnbc.com time to read: +4 min

AppLovin has soared 310% in 2024, beating every U.S. tech company with a market cap of at least $5 billion, according to FactSet data. The technology helps put more targeted ads on the mobile gaming apps the company owns, and works for other studios that license the software. They said the company's "real opportunity" is to catch the influx in brand advertising towards mobile gaming from more conventional channels like social media or legacy broadcasting. Because of its position in digital advertising, AppLovin faces potential competition from some of the most well-capitalized companies on the planet. In 2022, AppLovin gave up on efforts to buy gaming software developer Unity Software for $20 billion, after Unity shareholders rejected the bid.

Persons: AppLovin, Wells Fargo, FactSet . Oppenheimer, Stifel Nicolaus, Jefferies, Adam Foroughi, could've, Foroughi, mightily, Unity, LightShed's Brandon Ross Organizations: Nvidia, Revenue, FactSet, Wedbush, Google, Facebook, Apple, Orient, Unity Software, Unity Locations: BTIG, AppLovin, U.S

☆ JPMorgan’s favorite stock picks heading into November
▼ + stars: | 2024-11-04 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

With the election around the corner, JPMorgan has updated its top ideas list that target growth, income, value and short-selling strategies. Yet, JPMorgan thinks that trajectory can keep going, as it has an overweight rating on the stock with a $300 price target. JPMorgan's overweight rating and target of $1,100 on the name also implies more than 34% upside from here. JPMorgan also highlighted the newly added Regency Centers as one of its growth strategies for the new trading month. Shares have jumped more than 7% this year, and JPMorgan's target implies almost 8% upside from Friday's close, on par with its average target of $77.12.

Persons: JPMorgan's, Carvana, Eli Lilly, David Ricks Organizations: JPMorgan, Nasdaq, Dow Jones Industrial, Regency Centers, Caterpillar Locations: Carvana

☆ New York Times adds fewer digital subscribers as spending tightens
▼ + stars: | 2024-11-04 | by ( ) www.cnbc.com time to read: +1 min

The New York Times building is seen in Manhattan, New York, August 3, 2020. New York Times posted fewer-than-expected digital subscribers for the third quarter as readers cut back on spending in an uncertain economy, offsetting strong growth in advertising sales. The company added 260,000 digital-only subscribers, compared with 300,000 additions in the previous quarter. New York Times forecast subscription revenues to grow by 7% to 9% in the fourth quarter, slightly below expectations for 8.2% growth. Revenue from sports news site The Athletic, purchased by the New York Times in 2022, jumped 29.8% to $44.7 million from $34.4 million a year ago.

Organizations: New York Times, LSEG, Athletic Locations: Manhattan , New York

☆ Morgan Stanley upgrades Roblox, says game platform's shares could more than double
▼ + stars: | 2024-11-04 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Roblox is at an inflection point and could see its stock price more than double from here, according to Morgan Stanley. Analyst Mathew Cost upgraded the online game platform to overweight from equal weight and lifted his price target by $27 to $65, suggesting 26.4% upside. The analyst thinks consensus expectations "underappreciates the potential" for Roblox to exceed it 20% bookings growth targets as it continues to grow its audience. That's nearly 10 times faster than the game market this year and the highest level since peak Covid in 2021, he noted. LSEG data shows Roblox is has buy or strong buy ratings from 20 of 33 analysts covering it.

Persons: Morgan Stanley, Mathew, That's Organizations: PlayStation

☆ Stocks making the biggest moves after hours: Palantir, Wynn Resorts, NXP Semiconductors and more
▼ + stars: | 2024-11-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

The software company surpassed Wall Street's third-quarter estimates, posting adjusted earnings of 10 cents per share on $726 million in revenue. That beat the 9 cents per share and $701 million in revenue expected by analysts polled by LSEG. NXP Semiconductors — The Netherlands-based semiconductor company shed 5% on disappointing fourth-quarter guidance, citing macro weakness in Europe and the Americas and in the industrial and internet of things market. NXP Semiconductors topped earnings estimates by 2 cents per share and posted in-line revenues. Cleveland-Cliffs — Shares fell more than 4% after the steel producer fell short of Wall Street's revenue estimates.

Persons: Wall, Palantir, Rick Dreiling, LSEG Organizations: LSEG, Wynn Resorts, Semiconductors, NXP, Revenue, Lattice Semiconductor Locations: Netherlands, Europe, Americas, Cleveland

☆ Marqeta shares plunge more than 30% on big forecast miss
▼ + stars: | 2024-11-04 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Marqeta shares tumbled more than 30% in extended trading on Monday after the company issued weaker-than-expected guidance for the fourth quarter. The payment processing firm said revenue in the fourth quarter will increase 10% to 12% from a year earlier. Marqeta, which primarily functions as a card-issuing platform, attributed the guidance miss to "heightened scrutiny of the banking environment and specific customer program changes." Total processing volume of $74 billion was up more than 30% from a year earlier. The company has been trying to break into the buy now, pay later business with a recently launched product called Marqeta Flex.

Persons: it's, Simon Khalaf Organizations: LSEG, Analysts, Mastercard, Visa, CNBC Locations: Las Vegas, BNPL

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