Payoneer Global Posts Q2 Earnings Above Street View On Improving Revenue Growth Trends
Portfolio Pulse from Shivani Kumaresan
Payoneer Global Inc (NASDAQ:PAYO) reported Q2 FY23 sales growth of 40% YoY to $206.73 million, beating the analyst consensus. Operating income was $33.4 million, with an operating margin of 16.2%. Adjusted EBITDA jumped 280% to $56 million. The company also announced the asset acquisition of Israel-based Spott. Payoneer raised FY23 revenue guidance from $810 million - $820 million to $820 million - $830 million. PAYO shares are trading higher by 7.79% at $5.47.
August 08, 2023 | 4:25 pm
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POSITIVE IMPACT
Payoneer's Q2 FY23 results exceeded expectations, with significant sales growth and raised revenue guidance. The company's stock is trading higher.
Payoneer's strong Q2 FY23 results and raised revenue guidance indicate a positive financial performance, which is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100