marqeta inc addressed a key investor concern tuesday as it announced a fouryear renewal of its contract with block inc alongside its latest earnings the company has extended its deal with block sq to power the cash app debit card through june 2027 marqeta mq said in a tuesday afternoon release shares of marqeta which makes cardissuing technology were flying 16 higher in tuesdays extended session most importantly  and likely the only discussion point to expect on the call  is the guide given that the new block contract starts on july 1 2023 and will thus affect the third quarter mizuhos dan dolev wrote in a note to clients marqeta also posted secondquarter results delivering a net loss of 588 million or 11 cents a share compared with a loss of 447 million or 8 cents a share in the yearprior period analysts tracked by factset were anticipating a 10cent loss per share read toasts stock heats up after earnings as company hits a milestone the company also reported adjusted earnings before interest taxes depreciation and amortization ebitda of 824000 whereas it logged a 102 million loss on the metric a year earlier the factset consensus was for a 98 million loss on the basis of adjusted ebitda in the latest quarter net revenue climbed to 231 million from 187 million whereas analysts were modeling 225 million total processing volume for the second quarter came in at 54 billion up 33 on a yearoveryear basis in the second quarter we grew our business to everincreasing levels of scale exceeded our sales bookings goals again and reduced our cost structure chief executive simon khalef said in a release our execution has been strong including accelerating our gotomarket motion enhancing our product offering and extending our partnership with cash app dont miss upstarts stock plunges after earnings as forecast comes in light this content was created by marketwatch which is operated by dow jones  co marketwatch is published independently from dow jones newswires and the wall street journal