Paysafe Limited (PSFE) announced a net loss of $1.43 million, or $0.02 per share, for the second quarter on Tuesday. This is an improvement compared to the net loss of $1.77 million, or $0.03 per share, reported in the same quarter last year, primarily due to increased revenues. Additionally, the online payments company has revised its full-year revenue outlook upwards. Consequently, Paysafe shares rose by more than 11% in pre-market trading, reaching $21.59.
After adjusting for one-time items, Paysafe reported earnings of $36.28 million, or $0.59 per share, which is an increase from the $34.7 million, or $0.56 per share, recorded in the previous year.
The company's revenue for the quarter saw a 9% rise, reaching $439.92 million, up from $402.34 million in the preceding year.
Paysafe has updated its full-year revenue forecast and now anticipates revenue in the range of $1.713 billion to $1.729 billion, compared to the earlier projection of $1.688 billion to $1.712 billion.
On Monday, Paysafe stock closed at $19.36, marking a 1.07% decrease. Over the past year, the stock has traded between $9.25 and $21.89.
