PAYA - Why Paya Holdings Tanked 14.1% on Friday
Shares of Paya Holdings (NASDAQ: PAYA) dropped on Friday after the company reported its earnings results for the third quarter. The stock was down as much as 17.8% on Friday, and as of this writing, shares are down 14.1% for the day.
On Nov. 5, Paya Holdings reported its results for the three months ending in September. The integrated payment and commerce company saw revenue grow 21.8% to $63.1 million in the quarter, which investors were likely happy with. However, the company had a net loss of $3 million in the quarter, which Wall Street was probably not enthused about.
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Why Paya Holdings Tanked 14.1% on Friday