Remitly Global Inc reports results for the quarter ended June 30 - Earnings Summary

• Remitly Global Inc RELY.OQ reported quarterly adjusted earnings of 3 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of -6 cents. The mean expectation of seven analysts for the quarter was for breakeven results per share. Wall Street expected results to range from -2 cents to 1 cents per share.

• Revenue rose 34.4% to $411.85 million from a year ago; analysts expected $384.61 million.

• Remitly Global Inc's reported EPS for the quarter was 3 cents​.

• The company reported quarterly net income of $6.54 million.

• Remitly Global Inc shares had fallen by 13.0% this quarter and lost 27.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 6.8% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy," 1 "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 $27.07, about 39.7% above its last closing price of $16.33

This summary was machine generated from LSEG data August 6 at 09:00 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)