Stock Track | Payoneer Stock Soars on Strong Q3 Results, Raised 2024 Guidance

Stock Track11-05

Payoneer Global Inc. (PAYO) saw its stock price surge by 16.82% on November 5, 2024, after the financial technology company reported impressive third-quarter results and raised its full-year guidance, exceeding analyst expectations.

For the third quarter of 2024, Payoneer achieved record quarterly volume of $20.4 billion, a 25% year-over-year increase, driven by a remarkable 57% surge in B2B volume. The company's quarterly revenue grew by 24% to $183.1 million, while adjusted EBITDA increased by 19% to $69.3 million, reflecting improving profitability.

Buoyed by the strong performance, Payoneer raised its 2024 guidance, now expecting revenue between $950 million and $960 million, and adjusted EBITDA in the range of $255 million to $265 million. This revised guidance surpassed analysts' expectations, further boosting investor confidence. The company's CEO, John Caplan, emphasized Payoneer's focus on building a "full-service financial stack for global cross-border SMBs and accelerating growth and profitability across our business."

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(PAYO) saw its stock price surge by 16.82% on November 5, 2024, after the financial technology company reported impressive third-quarter results and raised its full-year guidance,...</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":"1198718223","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1198718223","pubTimestamp":1730818592,"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":"Payoneer Global Inc.  saw its stock price surge by 16.82% on November 5, 2024, after the financial technology company reported impressive third-quarter results and raised its full-year guidance, exceeding analyst expectations.For the third quarter of 2024, Payoneer achieved record quarterly volume of $20.4 billion, a 25% year-over-year increase, driven by a remarkable 57% surge in B2B volume. 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