Stock Track | Remitly Global Soars 16% After Reporting Better-Than-Expected Q3 Earnings

Stock Track

2024-10-31

Shares of Remitly Global Inc. (NASDAQ: RELY) surged 16.32% in after-hours trading on Tuesday after the digital remittance company reported strong third-quarter results that exceeded Wall Street's expectations.

For the quarter ended September 30, 2024, Remitly posted earnings of $0.01 per share, beating analysts' consensus estimate of a $0.07 loss per share. Revenue came in at $336.53 million, up 39.27% year-over-year and surpassing the $320.74 million projected by analysts.

The company also raised its full-year 2024 revenue guidance to a range of $1.25 billion to $1.254 billion, compared to the previous estimate of $1.244 billion. For the fourth quarter of 2024, Remitly expects revenue between $338 million and $342 million, above the consensus estimate of $320.74 million.

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(NASDAQ: RELY) surged 16.32% in after-hours trading on Tuesday after the digital remittance company reported strong third-quarter results that exceeded Wall Street's expectations.</p>\n\n<p>For the quarter ended September 30, 2024, Remitly posted earnings of $0.01 per share, beating analysts' consensus estimate of a $0.07 loss per share. Revenue came in at $336.53 million, up 39.27% year-over-year and surpassing the $320.74 million projected by analysts.</p>\n\n<p>The company also raised its full-year 2024 revenue guidance to a range of $1.25 billion to $1.254 billion, compared to the previous estimate of $1.244 billion. 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