Payoneer slides after forecasting annual revenue below estimates

Payoneer Global

28/02/2024 15:36

** Shares of payment processor Payoneer Global  PAYO.O  fall
15.1% to $4.72 in morning trade
    ** PAYO expects 2024 revenue between $875 mln and $885 mln,
below analysts' expectation of $910 mln - LSEG data
    ** 2024 adjusted EBITDA forecast of $185 mln to $195 mln
also missed estimates of $213.2 mln
    ** However, Q4 net income of 7 cents/shr came in ahead of
expectations of 6 cents/shr
    ** Q4 revenue jumped 22% to $224.3 mln, also topping
estimates of $221.4 mln
    ** Q4 total business-to-business volume jumped 13% compared
to last year
    ** Including session's moves, stock down 9.9% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))