Why Online Payments Company Paysafe (PSFE) Stock Is Soaring Today – Paysafe (NYSE:PSFE) | Markets – Buy Aussie News

Paysafe Limited PSFE reported third-quarter FY23 revenue growth of 8% year-over-year to $396.4 million, missing the consensus of $397.3 million. The revenue was up 5% Y/Y on a constant currency basis.

Adjusted EPS of the online payments company was $0.57, up from $0.48 in 3Q22, beating the consensus of $0.07.

The Q3 total payment volume totaled $35.1 billion, up 8% Y/Y.

Segment revenues: Merchant Solutions +6% Y/Y, led by double-digit growth from e-commerce solutions, and Digital Wallets +12% Y/Y due to double-digit growth from classic digital wallets.

Adjusted EBITDA was $116.1 million (+22% Y/Y), and the margin expanded by 320 bps to 29.3%.

As of September 30, 2023, total cash and equivalents were $226.5 million, and total debt was $2.5 billion.

Bruce Lowthers, CEO of Paysafe, commented: “Paysafe has continued to build momentum through the third quarter, led by double-digit growth from our e-commerce solutions and classic digital wallets.”

FY23 Outlook: Paysafe reiterated its revenue outlook to $1.595 billion – $1.608 billion, versus the consensus of $1.59 billion.

The company reiterated adjusted EBITDA of $454 million – $462 million.

Before the up move today, PSFE stock had lost 26% year-to-date.

Price Action: PSFE shares were trading higher by 20.60% at $12.91 on the last check Tuesday.

… read more www.benzinga.com

FTC: We use income earning affiliate links. More on Sposored links.
Terms of use and third-party services. More here.

Sports Pages
Soccer | NFL | NBA |

“The adventure of life is to learn. The purpose of life is to grow. The nature of life is to change. The challenge of life is to overcome. The essence of life is to care. The opportunity of like is to serve. The secret of life is to dare. The spice of life is to befriend. The beauty of life is to give.” —William Arthur Ward