MoneyLion surges on record Q3 revenue, annual forecast lift

Moneylion

07/11/2024 17:30

** Financial technology firm MoneyLion's  ML.N  shares rise
~21% to $67.13 in afternoon trading
    ** Co reports record Q3 revenue of $135 mln, up 23%
year-over-year
    ** ML now expects FY24 revenue between $536 mln to $541 mln
compared with its prior expectation of $525 mln to $535 mln
    ** "Our record third-quarter results reflect MoneyLion's
ongoing ability to grow rapidly and take market share," - CEO
Dee Choubey
    ** Co expects adjusted core earnings in the range $88 mln to
$93 mln vs $80 mln to $87 mln earlier
    ** On a per-share basis, ML's Q3 loss narrows to 25 cents vs
40 cents, a year ago
    ** Including session moves, stock up ~7% YTD

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))