Pagaya surges on upbeat Q3 rev forecast, surprise quarterly profit

Pagaya Technologies

09/08/2024 12:57

** Shares of fintech firm Pagaya Technologies  PGY.O  surge
~15.3% to $17.41 premarket 
    ** Co reports Q2 adjusted profit of 10 cents/share vs Wall
Street expectations of a loss of 1 cent/share - LSEG data
    ** PGY sees Q3 revenue between $250-$260 mln, above
estimates of $248 mln 
    ** Co's network volume comes in at $2.3 bln in Q2, up 19%
from previous year 
    ** PGY's total revenue surges to a quarterly record of
$250.3 mln vs $195.6 mln a year ago 
    ** As of last close, stock down ~9% YTD

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