PAYO - Why Shares of Payoneer Global Are Rising Today
Shares of payments specialist Payoneer Global (NASDAQ: PAYO) are rising today, up 15.3% as of 11:04 a.m. ET, after the company announced financial results for the fourth quarter of 2022 that pleased investors.
Payoneer reported a net loss of $0.03 per share on total revenue of more than $183.5 million, beating analysts' estimates for both earnings and revenue.
The company also said that John Caplan, who was co-CEO, will become the sole CEO, effective today. The other former co-CEO, Scott Galit, will become a senior advisor and serve on the board of directors. Bea Ordonez, deputy CFO, is moving into the role of CFO.
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Why Shares of Payoneer Global Are Rising Today