Global-E Online Ltd Down 27.95% To $28.42 After Earnings

Global-E Online Ltd (GLBE) said before open Wednesday that it broke even in quarter three 2023.

In the same quarter a year ago, the company lost $0.41 per share on revenue of $105.6 million.

The stock is down 27.95% to $28.42 after the report.

Global-E Online Ltd's profit margins maintained as both earnings and revenue declined at the same pace.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

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

Prior to the report, InvestorsObserver gave the stock an overall score of 54. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Global E Online Ltd provides e-commerce solutions. It offers a platform to enable and accelerate global, direct-to-consumer cross-border e-commerce. The platform was purpose-built for international shoppers to buy seamlessly online and for merchants to sell from, and, anywhere in the world. It localizes the shopper experience in an effort to make international transactions as seamless as domestic ones. The platform increases the conversion of international traffic into sales by removing much of the complexity associated with international e-commerce.