PSFE - Why Paysafe Stock Popped 7% Today
Shares of U.K.-based digital payments processor Paysafe (NYSE: PSFE) jumped 7.2% through 11:33 a.m. EST after the company reported Q3 earnings on Thursday.
Analysts expected Paysafe to post $353 million in sales for the quarter, but earn no profit. Paysafe beat these expectations, though, generating revenue of $366 million, and earning...no profit.
That may not sound like great news for Paysafe, but today it seems to be good enough for investors (especially in light of today's positive inflation news -- inflation down to 7.7% in October). Meanwhile, at Paysafe, payment volumes grew 5% year over year and revenues were up 4% (and would have been up 10% but for unfavorable currency exchange rates).
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Why Paysafe Stock Popped 7% Today