Remitly Global Inc reports results for the quarter ended March 31 - Earnings Summary

• Remitly Global Inc RELY.OQ reported quarterly adjusted earnings of 5 cents​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of -11 cents. The mean expectation of ten analysts for the quarter was for a loss of 2 cents per share. Wall Street expected results to range from -4 cents tozero cents per share.

• Revenue rose 34.4% to $361.62 million from a year ago; analysts expected $347.69 million.

• Remitly Global Inc's reported EPS for the quarter was 5 cents​.

• The company reported quarterly net income of $11.35 million.

• Remitly Global Inc shares had risen by 1.9% this quarter and lost 6.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 27% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell." The average consensus recommendation for the business support services peer group is also "buy"

• Wall Street's median 12-month price target for Remitly Global Inc is $25.00

This summary was machine generated from LSEG data May 7 at 10:23 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)