Paysafe (NYSE: PSFE) is trading higher Wednesday after the company reported better-than-expected top-line results for the fourth quarter and issued guidance.
Paysafe reported quarterly revenue of $371.7 million, which beat the $357.37 million estimate. Revenue was approximately flat compared to the fourth quarter of 2020. Net income attributable to Paysafe was $90.3 million, compared to a net loss of $3.4 million in the same quarter last year.
Paysafe said total payment volume increased 20% year-over-year to $31.5 billion.
"We continue to win and pursue competitive deals with some of the most disruptive companies in high growth verticals, such as North America iGaming and crypto, and our teams remain extremely focused on delivering on our commitments, positioning Paysafe for strong future growth," said Philip McHugh, CEO of Paysafe.
Paysafe expects first-quarter revenue to be between $355 million and $365 million versus the $362.73 million estimate.
Related Link: Paysafe Tops Q4 As US Acquiring Growth Outshines Digital Commerce Decline; Names New Chair
Paysafe operates a specialized payments platform which aims to enable businesses and consumers to connect and transact seamlessly.
PSFE Price Action: Paysafe has traded as low as $2.58 and as high as $15.65 over a 52-week period.
The stock was up 12.8% at $3.26 at time of publication.
Photo: JoshuaWoroniecki from Pixabay.
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