01:47 PM EDT, 05/07/2024 (MT Newswires) -- MoneyLion's ( ML ) shares rose 2.1% in recent trading Tuesday, paring earlier gains, after the company posted a surprise Q1 profit and higher revenue than expected by analysts.

Net income was $0.60 per diluted share, compared with a loss of $1.29 a year earlier, the company said Tuesday.

Analysts polled by Capital IQ expected a loss of $0.08.

Revenue in the quarter ended March 31 rose to $121 million from $93.7 million a year earlier.

Analysts surveyed by Capital IQ forecast $116.3 million.

The company expects Q2 revenue of $125 million to $130 million. Analysts polled by Capital IQ project $126.9 million.

Price: 72.91, Change: +1.53, Percent Change: +2.14