Shares of Priority Technology Holdings Inc (PRTH) surged by 5.43% on November 8, 2024, following the company's impressive financial results for the third quarter of 2024. The fintech firm reported a 20.1% increase in revenue to $227 million and a 62% rise in operating income, driven by strong performance across its Unified Commerce Platform.
Priority Technology Holdings' growth was fueled by its focus on Small and Medium-sized Business (SMB) Acquiring, B2B Payables, and Enterprise Payments segments. The company's ability to capitalize on its technology and enhance revenue opportunities has positioned it for continued success.
Management is projecting full-year revenue growth of 16-17% from the previous year, highlighting the company's momentum and growth potential. Investors reacted positively to the strong financial performance, propelling PRTH stock higher in Wednesday's trading session.
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