Stock Track | NerdWallet Soars on Stellar Q3 Results, Buyback and Growth Prospects

Stock Track10-31 08:40

Shares of personal finance company NerdWallet Inc. (NRDS) surged over 5% on Tuesday, October 30, fueled by the company's impressive third-quarter 2024 financial performance and strong growth prospects.

For the quarter ended September 30, NerdWallet reported revenue of $191.3 million, a robust 25% increase year-over-year. This growth was primarily driven by the company's surging insurance products revenue, which saw a remarkable 916% year-over-year jump, and a 12% increase in revenue from the small and medium-sized business (SMB) vertical.

The company's profitability also improved significantly, with non-GAAP operating income reaching $22.9 million, up from $9.5 million in the prior-year quarter. NerdWallet attributed this strong performance to increased operational efficiency and disciplined cost management measures.

In addition to the stellar financial results, investors were also encouraged by NerdWallet's announcement of a new $25 million share repurchase program, following the completion of its previous buyback plan. This move underscores the company's confidence in its future growth prospects and commitment to enhancing shareholder value.

NerdWallet's recent acquisition of mortgage broker Next Door Lending is expected to further bolster its growth trajectory. This strategic move is anticipated to improve the company's mortgage product economics and build recurring customer relationships, similar to its previous acquisition of small business loan broker Fundera in 2020.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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(NRDS) surged over 5% on Tuesday, October 30, fueled by the company's impressive third-quarter 2024 financial performance and strong growth prospects...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NRDS","symbol_name":"NerdWallet","start_time":0,"source_url":"","article_id":"1142281546","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1142281546","pubTimestamp":1730335253,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of personal finance company NerdWallet Inc.  surged over 5% on Tuesday, October 30, fueled by the company's impressive third-quarter 2024 financial performance and strong growth prospects.For the quarter ended September 30, NerdWallet reported revenue of $191.3 million, a robust 25% increase year-over-year. 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