Paysafe's Q3 Earnings Miss, Shares Plummet

Paysafe Limiteds stock plummeted after reporting disappointing Q3 earnings, missing analyst expectations and lowering its full-year outlook. The company reported adjusted earnings of seventy cents per share, a three-cent miss, and revenue of four hundred thirty-three point eight million dollars, just under estimates. Paysafe cut its full-year guidance to between one dollar eighty-three cents and one dollar eighty-eight cents per share, down from its previous forecast. The company attributed the updated outlook to growth in lower-margin products and a longer timeline for new product development, particularly digital wallet initiatives. Paysafe also reported a net loss of eighty-seven point seven million dollars, largely due to an eighty-one point two million dollar charge related to new tax regulations.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.