Paysafe Climbs On Decision To Buy Back Shares

(RTTNews) - Shares of online payments platform Paysafe Limited (PSFE) are rallying more than 21% Tuesday morning after the company announced a share buyback of up to $50 million of shares.

For the third quarter, Paysafe reported net loss of $2.55 million, or $0.04 per share, compared with profit of 978,000 or $0.02 per share in the same quarter a year ago.

Excluding special items, the company posted earnings of $35.3 million, or $0.57 per share.

Revenue for the quarter was $396.4 million, an increased 8%.

PSFE is at $12.97 currently. It has traded in the range of $9.25 - $24.25 in the last 1 year.