Global-E Online 'Off To A Great Start,' CEO Says: Stock Drops Despite Q1 Triumph
Portfolio Pulse from Anusuya Lahiri
Global-E Online reported Q1 FY23 sales growth of 54% YoY to $117.6 million, beating consensus estimates. GMV rose 55% YoY to $703.9 million, and adjusted gross margin expanded to 41.4%. The company raised its FY23 revenue outlook and expects Q2 sales of $125 million - $130 million. Despite the positive results, GLBE shares dropped 5.87% in pre-market trading.
May 22, 2023 | 1:31 pm
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Global-E Online reported strong Q1 results, beating estimates and raising its FY23 outlook. However, the stock price dropped 5.87% in pre-market trading.
Global-E Online reported better-than-expected Q1 results and raised its FY23 outlook, which should have been positive for the stock. However, the stock price dropped 5.87% in pre-market trading, possibly due to profit-taking or market sentiment. The strong results and outlook should have a positive impact on the stock in the long term, but the short-term impact is negative.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100