Shares of Payoneer Global Inc. (PAYO) soared 21.42% on November 5, 2024, after the financial technology company reported outstanding third-quarter 2024 results that surpassed Wall Street expectations and raised its full-year guidance.

For the third quarter, Payoneer reported record quarterly volume of $20.4 billion, marking a robust 25% year-over-year increase driven by a remarkable 57% surge in B2B transaction volume. The company's quarterly revenue grew by 24% to $248.27 million, exceeding analysts' estimates of $225.48 million. Additionally, Payoneer delivered an impressive earnings per share (EPS) of $0.11, significantly outpacing the consensus estimate of $0.04.

Buoyed by the strong performance, Payoneer raised its 2024 revenue guidance to a range of $950 million to $960 million, up from the previous range of $920 million to $930 million, and surpassing analysts' expectations of $928.71 million. Furthermore, the company increased its 2024 adjusted EBITDA guidance to between $255 million and $265 million, reflecting improving profitability.