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Global-E Online shares sink after outlook lowered

·1 min read
Global-E Online shares sink after outlook lowered
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Shares of cross-border e-commerce business Global-E Online Ltd. sank 8.4% in early Tuesday trading after it cut its full-year revenue outlook. Net loss totaled $1.7 million, or 8 cents per share, after a loss of $53.6 million, or 35 cents per share, last year. Revenue of $46.2 million was down from $76.3 million. The FactSet consensus was for a loss of 15 cents per share and revenue of $75.1 million. Gross merchandise value (GMV) was $455 million, up 71% year-over-year. The company discontinued