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Paysafe Ltd (NYSE:PSFE) reported its second-quarter financial results on Tuesday. Here’s a look at the highlights.
The Details: Paysafe reported second-quarter adjusted earnings of 59 cents per share, beating the 8 cent analyst consensus estimate.
Quarterly sales came in at $439.9 million, reflecting a 7% growth in total payment volume and beating the $424.28 million estimate. The stock price surged after the print.
Revenue from the Merchant Solutions segment increased 13%, reflecting double-digit growth in e-commerce and growth from small and medium-sized businesses driven by initiatives to expand sales capabilities and optimize the portfolio.
Revenue from the Digital Wallets segment increased 6% as reported and 7% in constant currency, reflecting growth from gambling merchants and ongoing initiatives related to product and consumer engagement.
Bruce Lowthers, CEO of Paysafe, commented: “Paysafe’s momentum continues with higher quality revenue growth accelerating to 9% in the second quarter, driven by strong performance across all major product lines and execution on our 2024 strategic initiatives and investments.”
Outlook: Paysafe revised its full-year 2024 revenue guidance to $1.713 billion – $1.729 billion (prior $1.688 billion – $1.712 billion), versus the $1.705 billion analyst consensus estimate.
PSFE Price Action: Paysafe shares are up 5.89% at $20.50 premarket at last check Tuesday.
Posted In: PSFE
