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

Remitly Global

31/07/2024 22:54

* Remitly Global Inc  RELY.OQ  reported a quarterly adjusted
loss
of 6 cents​​ per share for the quarter ended in June, higher
than the same quarter last year, when the company reported EPS
of -11 cents.  The mean expectation of ten analysts for the
quarter was for a loss of 9 cents per share. Wall Street
expected results to range from -12 cents to -7 cents per share.
    * Revenue rose 30.9% to $306.42 million from a year ago;
analysts
expected $302.04 million. 
    * Remitly Global Inc's reported EPS for the quarter was a
loss
of 6 cents​.
    * The company reported a quarterly loss of $12.09 million.
    * Remitly Global Inc shares had risen by 11.7% this
quarter and
lost 30.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 16.5%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

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 $20.50 
This summary was machine generated from LSEG data July 31 at
09:53 p.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
 Jun. 30 2024      -0.09          -0.06          Beat
 Mar. 31 2024      -0.14          -0.11          Beat
 Dec. 31 2023      -0.19          -0.19          Met
 Sep. 30 2023      -0.16          -0.20          Missed