Paysafe Adds 12% As Q2 Results Surpass Street View, Annual Outlook Lifted

(RTTNews) - Shares of payment solutions provider Paysafe Limited (PSFE) are surging more than 12% Tuesday morning after reporting second-quarter results above analysts' view. The company also raised its full-year revenue outlook.

Paysafe reported a net loss of $1.77 million or $0.03 per share for the second quarter, significantly narrower than $658.74 million or $10.89 per share loss in the same quarter a year ago, reflecting an impairment charge of $676.5 million in the prior year period.

Excluding one-time items, Paysafe posted a profit of $34.68 million, or $0.56 per diluted share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.13 per share.

Quarterly revenue increased 6% year on year to $402.34 million, reflecting 6% growth in total payment volume. The consensus estimate was for $394.16 million.

For the full year, the company now expects revenue in the range of $1.595 billion-$1.608 billion, up from the prior outlook of $1.58 billion- $1.6 billion. Analysts expect revenue of $1.59 billion for the year.

PSFE, currently at $13.34, has traded in the range of $9.34 - $27.36 in the last 1 year.