Stock Track | Payoneer Stock Surges 21% on Impressive Q3 Results and Raised Guidance

Stock Track11-06

Shares of Payoneer Global Inc. (PAYO) soared 21.42% on November 5, 2024, after the financial technology company reported outstanding third-quarter 2024 results that surpassed Wall Street expectations and raised its full-year guidance.

For the third quarter, Payoneer reported record quarterly volume of $20.4 billion, marking a robust 25% year-over-year increase driven by a remarkable 57% surge in B2B transaction volume. The company's quarterly revenue grew by 24% to $248.27 million, exceeding analysts' estimates of $225.48 million. Additionally, Payoneer delivered an impressive earnings per share (EPS) of $0.11, significantly outpacing the consensus estimate of $0.04.

Buoyed by the strong performance, Payoneer raised its 2024 revenue guidance to a range of $950 million to $960 million, up from the previous range of $920 million to $930 million, and surpassing analysts' expectations of $928.71 million. Furthermore, the company increased its 2024 adjusted EBITDA guidance to between $255 million and $265 million, reflecting improving profitability.

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(PAYO) soared 21.42% on November 5, 2024, after the financial technology company reported outstanding third-quarter 2024 results that surpassed Wall Street expectations ...</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":"PAYO","symbol_name":"Payoneer Global Inc.","start_time":0,"source_url":"","article_id":"1184777174","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1184777174","pubTimestamp":1730869955,"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 Payoneer Global Inc.  soared 21.42% on November 5, 2024, after the financial technology company reported outstanding third-quarter 2024 results that surpassed Wall Street expectations and raised its full-year guidance.For the third quarter, Payoneer reported record quarterly volume of $20.4 billion, marking a robust 25% year-over-year increase driven by a remarkable 57% surge in B2B transaction volume. 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