reported better-than-expected quarterly earnings on Wednesday but the stock fell because the online payments company slashed its full-year financial forecasts.
(ticker: PSFE) reported earnings of 5 cents a share in the second quarter, beating the consensus of 3 cents among analysts tracked by
Revenue of $379 million was also above analysts’ estimates of $375.5 million.
But for the full year, the company cut its revenue forecast to a range of $1.47 billion to $1.49 billion from $1.53 billion to $1.58 billion earlier. Its forecast of adjusted earnings before interest, taxes, depreciation, and amortization, or Ebitda, was reduced to a range of $400 million to $415 million from $440 million to $460 million earlier.
Paysafe stock was down more than 10% to $1.94 in premarket trading.
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