OAKLAND, Calif. (AP) — OAKLAND, Calif. (AP) — Marqeta Inc. (MQ) on Tuesday reported a loss of $36.1 million in its first quarter.

On a per-share basis, the Oakland, California-based company said it had a loss of 7 cents.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.

The transaction processing services provider posted revenue of $118 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $118.3 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MQ at https://www.zacks.com/ap/MQ