Payments Firm Marqeta Expects to Beat Revenue Forecast, Hires Visa’s Milotich as CFO
- Marqeta reports higher-than-expected processing volumes
- Milotich will become chief financial officer in late February
This article is for subscribers only.
Payments firm Marqeta Inc. named Visa Inc.’s Mike Milotich as its chief financial officer and said it expects to post fourth-quarter net revenue that surpasses a previous forecast. The shares surged.
Milotich will become CFO on Feb. 22 and take over for Tripp Faix, who is stepping down to spend more time with family, Marqeta said Wednesday in a statement. The Oakland, California-based company also said it’s experienced “higher-than-expected processing volumes” and probably outperformed its previously announced fourth-quarter guidance, without giving exact figures.