Shares of Global-e Online (NASDAQ: GLBE) are making big gains in today's trading session following strong second-quarter earnings results. The company's share price was up nearly 14% as of 11:30 a.m. EDT.
Global-e Online published its Q2 earnings results after the market closed Monday, delivering earnings that fell short of expectations but revenue and guidance that came in far ahead of the market's targets. The Israel-based e-commerce services company posted a net loss of $0.25 per share on revenue of $57.28 million, while the average analyst estimate had called for a per-share loss of $0.20 on revenue of $47.64 million. Sales were up 92% year over year in the quarter.
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Here's Why Global-e Online Stock Is Up Big Today