Flywire Corp Voting Down 26.17% To $20.43 After Earnings Miss

Flywire Corp (FLYW) missed earnings projections on 11/7/2023 for Q3 2023.

Analyst expectations for Flywire Corp Voting earnings per share (EPS) were at $0.10, with the company missing those estimates with a reported EPS of $0.08, leading to a negative surprise of $0.02 per share (-20%). Flywire Corp Voting's earnings rose 300% year-over-year as the firm reported an EPS loss of $0.04 per share in its year-ago quarter. The positive annual growth shows the Technology company is performing well amid recent economic conditions.

Revenues were upbeat at $123.3 million. That is an increase of 29.50% in revenues from the year-ago report and is 1.23% higher than consensus estimates set at $121.8 million.

The stock is down 26.17% to $20.43 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Flywire Corp Voting has performed a little above average during the past few months. Before the report, Flywire Corp Voting received a Long-Term Technical Rank by InvestorsObserver of 55, putting it in the top half of stocks. The firm set a 52-week high on August 9, 2023 at $35.8 and set a 52-week low on November 8, 2022 at $17.3.

Flywire Corp provides a secure global payments platform, offering its clients an innovative and streamlined process to receive reconciled domestic and international payments in a more cost effective and efficient manner. The company's solutions are built on three core elements namely a payments platform; a proprietary global payment network and vertical-specific software backed by its deep industry expertise.