Remitly Global Inc reports results for the quarter ended in January 1 - Earnings Summary

Remitly Global

31/10/2024 02:36

* Remitly Global Inc  RELY.OQ  reported quarterly adjusted
earnings of 1 cent​​ per share for the quarter ended January 1,
higher than the same quarter last year, when the company
reported EPS of -20 cents.  The mean expectation of ten analysts
for the quarter was for a loss of 7 cents per share. Wall Street
expected results to range from -10 cents to -5 cents per share.
    * Revenue rose 39.3% to $336.53 million from a year ago;
analysts
expected $320.74 million. 
    * Remitly Global Inc's reported EPS for the quarter was 1
cent​.
    * The company reported quarterly net income of $1.92
million.
    * Remitly Global Inc shares had risen by 11.4% this
quarter and
lost 23.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.3%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 9 "strong buy" or "buy," 1
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the business
support
services peer group is also "buy"

Wall Street's median 12-month price target for Remitly Global
Inc is $21.00 
This summary was machine generated from LSEG data October 31 at
02:35 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2024      -0.07          0.01           Beat
 Jun. 30 2024      -0.09          -0.06          Beat
 Mar. 31 2024      -0.14          -0.11          Beat
 Dec. 31 2023      -0.19          -0.19          Met