Payoneer Global Inc. (PAYO) shares plummeted 5.01% in pre-market trading on Wednesday following the release of its third-quarter earnings report. The fintech company's results painted a mixed picture, with revenue surpassing expectations but earnings falling short of analysts' estimates.

Payoneer reported quarterly earnings of $0.04 per share, missing the analyst consensus estimate of $0.06 by 28.57%. This represents a significant 63.64% decrease from earnings of $0.11 per share in the same period last year. Despite the earnings miss, the company's quarterly sales of $270.85 million beat the analyst consensus estimate of $263.37 million by 2.84%, showing a 9.09% increase from $248.27 million in the previous year.

The sharp decline in net income, which fell 66% year-over-year to $14.1 million, likely contributed to investor concerns. However, Payoneer attempted to offset the disappointing earnings by raising its full-year 2025 revenue guidance to between $1.05 billion and $1.07 billion, up from its previous forecast of $1.04 billion to $1.06 billion. The company also reported strong growth in card usage, with a record $1.6 billion spent on Payoneer cards, up 19% year-over-year. Despite these positive indicators, the market's negative reaction suggests that investors are more focused on the company's profitability challenges in the short term.