Why Paysafe Stock is Trading Higher Today

Paysafe Limited PSFE shares are trading higher after the company reported better-than-expected fourth-quarter results and reported a 5% year-over-year increase in payment volume.

What to Know: On Thursday before market open, Paysafe reported its fourth-quarter and full-year results for the period that ended Dec. 31, 2022. The company also provided guidance for 2023.

Paysafe reported its quarterly earnings and sales:

  • Earnings of $0.54 per share compared to the analyst estimate of $0.10, an earnings surprise of 440%.
  • Sales of $383.60 million compared to the analyst estimate of $376.11 million, an earnings surprise of 1.99%.
  • Payment volume of $33.1 billion, an increase of 5% year-over-year.

Paysafe also reported its yearly earnings, reporting sales of $1.50 billion and an adjusted net income of $137.0 million.

The company also provided guidance for 2023:

  • First-quarter sales are expected in the range of $375 to $380 million, compared to analyst expectations of $376.88 million.
  • Full-year sales are expected in the range of $1.58 to $1.6 billion, compared to analyst expectations of $1.58 billion.

Bruce Lowthers, CEO of Paysafe, commented: "We are pleased with our progress and fourth quarter financial results, including 8% year-over-year constant currency revenue growth.

Paysafe Limited is a leading payments platform with an extensive track record of serving merchants and consumers in the global entertainment sectors.

According to data from Benzinga Pro, Paysafe shares were up 10.6%, trading at $22.46 at the time of publication. The stock has a 52-week high of $45.00 and a 52-week low of $11.29.

Image courtesy of Paysafe Limited

Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsSmall CapMoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!