Shares of fintech card issuing platform Marqeta (NASDAQ: MQ) were on the rise today, up a whopping 20% in Wednesday trading as of 12:15 p.m. ET.

Marqeta reported earnings last night that came in ahead of expectations on the top line, while slightly missing on the bottom line. However, management's guidance and commentary were very encouraging.

The company also announced a further extension of its deal with its key customer, Square and Cash App parent Block, with which it had already secured a multiyear contract renewal in August.

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Source Fool.com