Riskified jumps after Q3 profit beats estimates

Riskified

13/11/2024 20:31

** Shares of fraud and risk intelligence platform Riskified
 RSKD.N  jump as much as 21.2%; last up 7.7% at $4.62
    ** RSKD posts Q3 adjusted profit of 3 cents/shr, beating
Wall Street expectations of 2 cents/shr, according to data
compiled by LSEG
    ** Q3 revenue jumps 10% to $78.8 mln, also beating estimates
of $75 mln
    ** RSKD now expects annual revenue to be between $322 mln
and $327 mln, compared to its previous forecast of $320 mln to
$325 mln
    ** Brokerage William Blair hails RSKD's strong balance sheet
and notes that profitability and cash flow continue to improve
    ** We believe the fraud market remains a massive opportunity
- William Blair 
    ** Additionally, RSKD authorized an additional $75 mln share
repurchase program
    ** As of last close, RSKD shares down 8.3% YTD

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