By Josh Beckerman
Shares of Paysafe declined after the payment platform reported earnings below Wall Street expectations.
The stock was down 14%, to $14.05, midday Tuesday and is down about 18% this year.
Paysafe said first-quarter adjusted earnings per share declined to 34 cents from 57 cents. Analysts polled by FactSet expected 39 cents.
Revenue was down 4%, to $401 million, while analysts had expected $405 million. The company said organic revenue growth was 5%, which was above its expectations.
Revenue for the Merchant Solutions segment decreased 6% as the company sold its direct marketing payment processing business line. The Digital Wallets segment posted a 2% decline due to lower interest revenue on consumer deposits and unfavorable foreign exchange rates.
Paysafe affirmed full-year adjusted earnings per share guidance of $2.21 to $2.51.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
May 13, 2025 14:06 ET (18:06 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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