These Analysts Raise Their Forecasts On Global-E Online Following Better-Than-Expected Results

Global-E Online Ltd. (NASDAQ:GLBE) reported better-than-expected third-quarter results and raised its FY24 outlook on Wednesday.

Sales grew 32% year over year to $176 million, beating the analyst consensus estimate of $169.16 million.

Adjusted EBITDA rose to $31.1 million from $22.1 million a year ago. The company's operating loss narrowed to $21.0 million from $35.6 million. Loss per share was 13 cents, beating the consensus loss of 15 cents.

For the fourth quarter, Global-e Online projects GMV of $1.615 billion – $1.685 billion and revenue of $243 million and $255 million vs. $246.27 million estimate. The company raised its FY24 revenue guidance to $732.9 million  – $744.9 million (from $710 million – $750 million), vs. the consensus of $730.72 million.

Founder and ...

Full story available on Benzinga.com