Paysafe gains on upbeat quarterly results, forecast

Paysafe

10/11/2022 13:46

** U.S.-listed shares of UK-based payments firm Paysafe
Limited's  PSFE.N  climb 8.47% to $1.28 in premarket trade as co
reports Q3 results
    ** Co forecasts Q4 revenue to be in the range of $370
mln-$378 mln vs analysts estimates of $370.8 mln
    ** PSFE reports Q3 adj earnings of 4 cents/shr vs analysts'
estimates of 0 cents/shr, as per Refinitiv data; beats EPS
estimates for five out of eight quarters
    ** Co also beats rev estimates; reports Q3 rev of $366 mln
vs est of $353 mln
    ** PSFE raises FY22 revenue forecast, but tightens range to
be between $1.48 bln-$1.49 bln vs prior est of $1.47 bln-$1.49
bln
    ** PSFE also announces 1-for-12 reverse stock split plan;
intends to hold meeting on Dec. 8, 2022 to seek shareholders'
approval
    ** Up to Wednesday's close, stock had fallen 69.8% YTD
 (Reporting by Shristi  Achar A in Bengaluru)
 ((Shristi.AcharA@thomsonreuters.com;))