{"id":13530,"date":"2023-12-01T17:32:51","date_gmt":"2023-12-01T17:32:51","guid":{"rendered":"https:\/\/infundpros.com\/investment\/paysafe-stock-rises-as-payments-firm-sticks-with-financial-forecast\/"},"modified":"2023-12-01T17:32:51","modified_gmt":"2023-12-01T17:32:51","slug":"paysafe-stock-rises-as-payments-firm-sticks-with-financial-forecast","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=13530","title":{"rendered":"Paysafe Stock Rises as Payments Firm Sticks With Financial Forecast"},"content":{"rendered":"
\n
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The online payments-solution provider
\n Paysafe
\n reported slightly weaker-than-expected third-quarter results but kept its forecast for the full year unchanged, a move that helped lift its stock on Tuesday. <\/p>\n

\n Paysafe
\n (ticker: PSFE), based in the U.K.,\u00a0<\/strong>reported earnings of 57 cents a share for the quarter ended in September, slightly lower than the 60 cents expected by analysts tracked by
\n FactSet.<\/span>
\n Revenue of $396.4 million also was lower than expectations of $398.2 million.<\/p>\n

\n

Still, the stock rose 19% to $12.70 after markets opened on Tuesday. The broader market was higher as well: The
\n S&P 500
\n was 1.8% higher as investors welcomed news that the rate of inflation slowed more than expected in October. <\/p>\n

Investors may have been pleased knowing that Paysafe is still on track to achieve its full-year targets even though its quarterly results were lower than analysts had forecast. The company said adjusted earnings before interest, taxes, depreciation, and amortization, a metric used to judge core profitability, was expected to come in between $454 million and $462 million for the full year.<\/p>\n

The forecast was in line with Wall Street\u2019s projection of $459 million in adjusted Ebitda for the year and matched a forecast the company issued in August. <\/p>\n

The company estimated full-year revenue will be between $1.595 billion and $1.608 billion in 2023, more or less in line with expectations for $1.604 billion among Wall Street analysts. The revenue outlook also matched prior guidance. <\/p>\n

Write to Karishma Vanjani at\u00a0karishma.vanjani@dowjones.com.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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