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
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