Remitly Beats Earnings, Eyes Digital Shift

Remitlys Q3 earnings surpassed expectations, with a 24.7% revenue increase to $419.5M. Despite a slightly lower Q4 forecast, the company beat profit estimates by 1 cent per share. Growth in high-amount senders, small businesses, and new products like Flex and Remitly One drove performance. The CEO, Matthew Oppenheimer, emphasized improved reliability and customer trust. Looking ahead, Remitly plans to balance growth investments with cost control, anticipating a shift from cash to digital transfers due to new regulatory changes.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.