Pagaya Technologies Ltd. shares rallied in the extended session Thursday after the AI-backed fintech data company’s adjusted results and outlook topped Wall Street expectations.
Pagaya PGY shares surged as much as 37% after hours, following a 5% decline to finish the regular session at $2.31. Year to date, shares have rallied more than 85%, compared with a 16% gain on the S&P 500 index SPX. Total revenue rose 7.8% to $195.6 million from $181.5 million in the year-ago quarter, while revenue from fees rose 13.7% to $185.6 million from $163.3 million.
Analysts had estimated adjusted EBITDA of $5.2 million on revenue of $207 million for the third quarter, and adjusted EBITDA of $16.7 million on revenue of $805.9 million for the year.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: