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Remitly Global Stock Surges on Strong Q2 Earnings and Raised Guidance
Remitly Global Stock Surges on Strong Q2 Earnings and Raised Guidance
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BTCCSquare news:
Remitly Global (RELY) shares jumped 15.8% after the digital remittance provider reported better-than-expected Q2 results. Revenue grew 34% to $411.9 million, surpassing estimates of $384.5 million, while send volume increased 40% to $18.5 billion. The company turned profitable with net income of $6.5 million, a significant improvement from last year's $12.1 million loss.
CEO Matt Oppenheimer called Q2 a "defining quarter," highlighting innovations like Remitly Business and the Remitly One membership program. These expansions theoretically increase the company's addressable market from $2 trillion to $22 trillion, though execution risks remain. The guidance raise signals confidence in sustained growth across its 170-country network.
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