Global-e Online Up 15% In Pre-market As Q1 Results Better Than View, Raised Outlook

(RTTNews) - Shares of Global-e Online Ltd. (GLBE) were rising more than 15 percent in pre-market on Monday to $33.74 after reporting improved first-quarter results above analysts view. The company also raised its full-year revenue outlook.

The company posted net loss of $32.05 million or $0.19 per share for the first quarter, narrower than $43.08 million or $0.26 per share in the same quarter a year ago.

Revenue for the quarter rose 24.0% to $145.87 million from $117.63 million last year.

On average, 8 analysts polled by Thomson-Reuters expect the company to report a loss of $0.22 per share on revenue of $141.56 million for the quarter.

For the full year, the company has raised its revenue outlook to $733 million - $773 million from the previous guidance of $731 million - $771 million. The consensus estimate stands at $749.71 million.

Global-e Online shares had closed at $29.13, up 2.57 percent on Friday. The stock has been trading in the range of $27.30 - $45.72 in the last 1 year.