PSFE - Why Paysafe Stock Is Skyrocketing Today
2023-08-15 10:36:00 ET
Paysafe (NYSE: PSFE) stock is making big gains in Tuesday's trading. The fintech-services company's share price was up 18.4% as of 10:15 a.m. ET, according to data from S&P Global Market Intelligence .
Paysafe published its second-quarter results prior to the market opening this morning and reported sales and earnings for the period that beat Wall Street's expectations. The company recorded non- GAAP (adjusted) earnings of $0.56 per share on revenue of $402.3 million, handily beating the average analyst's estimate target for per-share earnings of $0.30 on revenue of $395.1 million.
Paysafe's revenue rose 6.2% year over year in the second quarter, and total payment volume conducted across its platform increased 6% to reach $35.5 billion. The company recorded adjusted net income of $34.7 million in the period, declining roughly 7.5% year over year.
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Why Paysafe Stock Is Skyrocketing Today