BUZZ-Remitly Global climbs on upbeat Q3 results, raising FY24 rev forecast

Reuters
2024/10/31

** Shares of Remitly Global jump 21.9% to $18.6 premarket

** Digital financial services provider posts Q3 revenue of $336.5 mln, above estimates of $320.7 mln - LSEG

** Expects FY24 rev in the $1.250 bln-$1.254 bln range vs prior outlook in $1.230 bln-$1.250 bln range and Q4 rev in $338 mln-$342 mln range

** Says active customers rose 35% to 7.3 mln from year-ago 5.4 mln

** Q3 net income of $1.9 mln beats estimates of a $13.6 mln loss - LSEG

** Q3 adj EPS of a cent is above estimates of 7 cents loss/shr

** Stock rated "buy" on avg; median PT is $23 - LSEG

** Stock down 21.4% YTD, as of last close

(Reporting by Sukriti Gupta in Bengaluru)

((Sukriti.Gupta@thomsonreuters.com;))

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