Global-e Shares Rise 5% After 1Q Results, Increased Guidance

Dow Jones05-21

By Stephen Nakrosis

Shares of Global-e Online were trading higher on the Nasdaq Monday, following the release of first-quarter results and an increase to revenue guidance.

In early afternoon trading, shares of the e-commerce solutions provider were up about 5% at $30.58. The stock closed the previous session at $29.13, and traded in a range of $30.27 and $34.84 earlier Monday.

For the first quarter, Global-e had a loss per share of 19 cents on revenue of $145.9 million. Analysts were expecting a loss per share of 21 cents, according to FactSet. In the year-ago period, the company reported a loss per share of 26 cents on revenue of $117.6 million.

Gross merchandise value in the first quarter was $930 million, up 32% year over year.

Global-e expects second-quarter revenue of $162.5 million to $168.5 million. The company raised its revenue guidance for fiscal year 2024 to a range of $733 million to $773 million, from previous guidance of $731 million to $771 million.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

May 20, 2024 12:38 ET (16:38 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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