By Kelly Cloonan
Shares of Payoneer Global climbed after the company reinstated its full-year guidance and initiated a $300 million share repurchase program.
The stock rose 14% to $7.43 on Wednesday. Shares are up 42% in the past 12 months.
The financial technology company said Wednesday it expects revenue of $1.04 billion to $1.06 billion for the year. The company had suspended its previous full-year guidance in May, citing macroeconomic and trade uncertainty. It had initially forecast sales of $1.04 billion to $1.05 billion.
"With a strong market position, differentiated assets, and a clear focus, we are confident in our strategy," Chief Executive John Caplan said.
The company also said its board has authorized an increase to its existing share repurchase program to $300 million, effective Aug. 6.
For the second quarter, the company posted a profit of $19.5 million, or 5 cents a share, down from $32.4 million, or 9 cents a share, a year earlier. Analysts polled by FactSet were looking for earnings per share of 6 cents.
Revenue rose to $260.6 million compared with $239.5 million a year ago. Analysts expected $253.2 million.
The results reflect the strength of the company's business as customers continue to adapt and innovate in a rapidly evolving trade environment, Caplan said.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
August 06, 2025 12:19 ET (16:19 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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