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Why Is Marketing Solutions Provider Global-E Online's Stock Surging Today?

Global-E Online Ltd (NASDAQ:GLBE) shares are soaring after the company reported better-than-expected first-quarter FY24 revenue and raised the outlook. The company reported first-quarter FY24 sales growth of 24% year-on-year to $145.90 million, beating the analyst consensus estimate of $141.5 million. Gross Merchandise Value (GMV) rose 32% Y/Y to $930 million. Service fees revenue grew by 35.6%, and Fulfillment fees increased by 15.4%. Non-GAAP gross profit increased 36% Y/Y to $66.1 million, and ...