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

Remitly Global

31/10/2024 10:13

** Shares of Remitly Global  RELY.O  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;))