FMP
NerdWallet Shares Jump 34% on Strong Q3 Revenue Growth and Upbeat Q4 Guidance
Oct 30, 2024 6:00 PM - Davit Kirakosyan
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NerdWallet (NASDAQ:NRDS) saw its shares soar over 34% intra-day on Wednesday after delivering impressive third-quarter revenue growth and issuing optimistic guidance for Q4.
In Q3, the personal finance company reported earnings per share of $0, missing the Street estimate of $0.04. However, revenue reached $191.3 million, up 25% year-over-year and far exceeding the $168.5 million forecast.
A key contributor to this surge was the insurance segment, which saw an extraordinary 916% year-over-year growth. Additionally, revenue from small- and medium-sized business (SMB) products rose 12% to $27.8 million, driven by demand for business credit cards and loan renewals.
Looking ahead, NerdWallet projected Q4 revenue between $164 million and $172 million, significantly above the Street estimate of $152 million.
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