Online payment solution provider
Paysafe
reported slightly lower-than-expected third-quarter profit and revenue and kept its forecast for the full year unchanged.
Paysafe
(ticker: PSFE), the U.K.-based payments provider, reported earnings of 57 cents a share for the quarter ended in September, slightly lower than the 60 cents expected by analysts. Revenue of $396.4 million also was lower than expectations of $398.2 million.
Paysafe said adjusted Ebitda, or earnings before interest, taxes, depreciation, and amortization, a statistic used to judge core profitability, was expected to come in between $454 million to $462 million for the full year.
The forecast was in line with Wall Street’s projection of $459 million in adjusted Ebitda for the year and matched the company’s guidance in August.
The company estimated full-year revenue to be between $1.595 billion and $1.608 billion in 2023, within expectations of $1.604 billion set by Wall Street analysts. The revenue outlook also matched prior guidance.
The stock rose 12% to $11.97 in premarket trading on Tuesday. Coming into the session, it has fallen 23% this year.
Write to Karishma Vanjani at [email protected].
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