Nuvei Corp hits record low on revenue forecast cut, Q2 profit miss

Nuvei

09/08/2023 17:12

** U.S.- listed shares of Canadian payments tech co Nuvei
Corp  NVEI.O  drop 37% to an all-time low of $18.80
    ** Co cuts 2023 revenue outlook to between $1.17 bln and
$1.19 bln, from $1.22 bln-$1.26 bln forecast earlier 
    ** Forecast cut due to longer-than-expected lag times in new
businesses, and as co scrapped deal with a large customer
    ** Stock set to post worst day since December 2021, if
losses hold
    ** Co posts Q2 adj. earnings of 39 cents​​/shr vs analysts'
estimates of 46 cents/shr
    ** Including session losses, stock down 26.2% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))