Why Shares of Payoneer Global Popped Today

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Shares of the digital commerce company Payoneer Global (NASDAQ: PAYO) traded more than 26% higher as of 10:22 a.m. ET today after the company reported better-than-expected earnings results for the second quarter of the year. Payoneer reported earnings per share of $0.01 on revenue of nearly $148.2 million, both numbers that topped analyst expectations for the quarter. "Payoneer delivered strong revenue growth and profitability," Scott Galit, co-CEO of Payoneer, said in an earnings statement.