Shares of Payoneer Global Inc. (PAYO) plummeted 5.6% in the pre-market trading session on Thursday, following the company's mixed fourth-quarter 2024 earnings report.
The fintech company reported Q4 GAAP earnings per share of $0.05, missing analysts' estimates of $0.06 per share. However, Payoneer's revenue for the quarter came in at $261.7 million, beating the consensus estimate of $242.1 million.
Despite the revenue beat, investors appear to have reacted negatively to the company's lower-than-expected earnings per share, leading to the pre-market sell-off in Payoneer's stock. The company's Q4 operating expenses also increased to $232.6 million, which may have further contributed to the earnings miss and the subsequent stock price decline.
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