12:29 PM EDT, 08/07/2024 (MT Newswires) -- (Updates to add the stock movement in the headline and the first paragraph.)

Payoneer Global ( PAYO ) shares advanced 19.5% in recent Wednesday trading after the company posted Q2 results that topped market expectations and raised its revenue outlook for 2024.

The company reported Q2 earnings Wednesday of $0.09 per diluted share, down from $0.12 a year earlier.

Analysts polled by Capital IQ expected $0.05.

Revenue for the quarter ended June 30 was $239.5 million, up from $206.7 million a year earlier.

Analysts surveyed by Capital IQ expected $223.1 million.

The company said it now expects 2024 revenue of between $920 million and $930 million, compared with its prior outlook of between $895 million and $905 million.

Analysts polled by Capital IQ expect $904.1 million.

Price: 6.28, Change: +1.03, Percent Change: +19.52