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

Remitly Global

02/05/2024 10:09

* Remitly Global Inc  RELY.OQ  reported a quarterly adjusted
loss
of 11 cents​​ per share for the quarter ended in March, higher
than the same quarter last year, when the company reported EPS
of -16 cents.  The mean expectation of ten analysts for the
quarter was for a loss of 14 cents per share. Wall Street
expected results to range from -20 cents to -10 cents per share.
    * Revenue rose 32% to $269.12 million from a year ago;
analysts
expected $273.97 million. 
    * Remitly Global Inc's reported EPS for the quarter was a
loss
of 11 cents​.
    * The company reported a quarterly loss of $21.08 million.
    * Remitly Global Inc shares had fallen by 15.4% this
quarter and
lost 9.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 8.4%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
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." 
    * Wall Street's median 12-month price target for Remitly
Global
Inc is $27.00 

This summary was machine generated from LSEG data May 2 at 09:08
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
 Mar. 31 2024      -0.14          -0.11          Beat
 Dec. 31 2023      -0.19          -0.19          Met
 Sep. 30 2023      -0.16          -0.20          Missed
 Jun. 30 2023      -0.16          -0.11          Beat