Why These 10 Firms Nosedived Today

3. Payoneer Global Inc. (NASDAQ:PAYO)

Payoneer Global fell by 13.60 percent on Wednesday to close at $6.16 apiece after the company withdrew its previously issued full-year guidance, coupled with a mixed earnings performance in the first quarter of the year.

In its earnings release, Payoneer Global Inc. (NASDAQ:PAYO) said that it was suspending its previously issued full-year 2025 guidance given the current macroeconomic uncertainties.

“There is a broad range of potential outcomes, and as a company supporting cross-border businesses that may be negatively impacted, we face substantial risks which could impact our financial results,” Payoneer Global Inc. (NASDAQ:PAYO) Chief Financial Officer Bea Ordonez said.

In the first quarter, the company reported a 29-percent drop in net income at $20.5 million versus the $28.97 million in the same period last year.

Revenues, however, were higher by 7.9 percent at $246 million versus $228 million year-on-year.

Operating expenses also grew by 14.8 percent to $217 million from $189 million in the same comparable period.