LONDON – Paysafe Limited (NYSE:PSFE) reported second-quarter revenue that beat analyst expectations and raised its full-year guidance, sending shares soaring 10% in premarket trading on Tuesday.
The payments platform company posted revenue of $439.9 million for the quarter, up 9% YoY and ahead of the $424.27 million consensus estimate. Adjusted earnings per share came in at $0.59, just below the $0.60 expected by analysts.
Paysafe raised its full-year 2024 revenue guidance to a range of $1.71 billion to $1.73 billion, up from its previous outlook of $1.69 billion to $1.71 billion. The new guidance midpoint of $1.72 billion is above the $1.71 billion analyst consensus.
“Paysafe’s momentum continues with higher quality revenue growth accelerating to 9% in the second quarter, driven by strong performance across all major product lines and execution on our 2024 strategic initiatives and investments,” said CEO Bruce Lowthers.
The company reported total payment volume of $38.1 billion in Q2, up 7% from the prior year. Adjusted EBITDA increased 5% to $119.0 million.
Paysafe’s Merchant Solutions segment saw revenue grow 13% YoY to $255.0 million, while Digital Wallets revenue rose 6% to $189.7 million.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
