BUZZ-Remitly Global climbs on upbeat Q3 results, raising FY24 rev forecast

Reuters10-31

** Shares of Remitly Global jump 21.9% to $18.6 premarket

** Digital financial services provider posts Q3 revenue of $336.5 mln, above estimates of $320.7 mln - LSEG

** Expects FY24 rev in the $1.250 bln-$1.254 bln range vs prior outlook in $1.230 bln-$1.250 bln range and Q4 rev in $338 mln-$342 mln range

** Says active customers rose 35% to 7.3 mln from year-ago 5.4 mln

** Q3 net income of $1.9 mln beats estimates of a $13.6 mln loss - LSEG

** Q3 adj EPS of a cent is above estimates of 7 cents loss/shr

** Stock rated "buy" on avg; median PT is $23 - LSEG

** Stock down 21.4% YTD, as of last close

(Reporting by Sukriti Gupta in Bengaluru)

((Sukriti.Gupta@thomsonreuters.com;))

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.

Comments

We need your insight to fill this gap
Leave a comment