Paysafe (PSFE) tops analyst expectations, shares jump

Paysafe Limited (NYSE: PSFE) topped consensus expectations in its latest quarter resulting in a surge in its share price on Thursday.

The online payments firm's shares hit a high of $24.23 per share in early trading after earnings per share for the fourth quarter came in at $0.54, $0.11 better than the analyst estimate of $0.43. In addition, revenue for the quarter came in at $383.6 million versus the consensus estimate of $375.47 million. At the time of writing, Paysafe shares are up 12.7% at $22.89.

Total payment volume in the quarter was $33.1 billion, increasing by 5% year-over-year.

"When I joined Paysafe, we said our focus would be on returning to growth in the back half of the year and into 2023, and we have done exactly that," commented Bruce Lowthers, Paysafe CEO. "We have recruited high-caliber talent, simplified and re-positioned the business, and re-built our sales organization, which is driving early success in cross-selling and multi-product client wins."

Looking ahead, Paysafe sees first-quarter revenue between $375 and $380 million, versus the consensus of $376.88 million, with full-year 2023 revenue seen from $1.58 billion to $1.6 billion, versus the consensus of $1.58 billion.

By Sam Boughedda

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