Paysafe Q2 Loss Narrows As Sales Improve; Ups Annual Revenue Outlook; Stock Rises In Pre-market

(RTTNews) - Paysafe Limited (PSFE), Tuesday reported net loss of $1.43 million, or $0.02 per share for the second quarter, lower than net loss of $1.77 million, or $0.03 per share in the same quarter a year ago, mainly on higher revenues. The online payments company also raised its full-year revenue outlook. Paysafe shares were up more than 11 percent in pre-market to $21.59.

Excluding one-time items, the company posted earnings of $36.28 million, or $0.59 per share, up from $34.7 million, or $0.56 per share last year.

Revenue for the quarter increased 9 percent to $439.92 million from $402.34 million in the previous year.

For the full year, Paysafe now expects revenue in the range of $1.713 billion - $1.729 billion, up from the previous guidance of $1.688 billion - $1.712 billion.

Paysafe stock had closed at $19.36, down 1.07 percent on Monday. It has traded in the range of $9.25 - $21.89 in the last 1 year.