Why Nuvei Corporation Stock Popped Today
Shares of Nuvei Corporation (NASDAQ: NVEI) jumped 19.8% on Wednesday after the Canada-based payment processor announced mixed quarterly results but also raised its full-year outlook.
On the former, Nuvei's third-quarter revenue grew 55% year over year to $304.9 million, translating to adjusted (non-GAAP) net income of $56.8 million, or $0.39 per share. Analysts, on average, were looking for slightly higher earnings of $0.41 per share, but on lower revenue of $303.7 million.
Delving deeper into Nuvei's results, total payment volume increased 72% to $48.2 billion, including a 20% increase in organic total volume at constant currency. Trending toward the bottom line, adjusted earnings before interest, taxes. depreciation, and amortization (EBITDA) grew 36% to $110.7 million, or 35.9% of revenue.
Source Fool.com
