Stock Track | Paysafe Plummets Over 5% on Disappointing Q3 Earnings Miss

Stock Track11-15

Paysafe Ltd (NYSE: PSFE) shares plummeted 5.09% in intraday trading on Friday, following the company's disappointing third quarter 2024 earnings report that missed analyst expectations for earnings per share (EPS).

The financial technology company reported revenue of $427.1 million for the quarter, up 7.7% year-over-year but in line with estimates. However, Paysafe posted a net loss of $13 million, or $0.21 per share, significantly wider than the $0.041 loss per share in the same period last year.

The earnings miss and deteriorating profitability weighed heavily on investor sentiment, exacerbating the stock's recent decline. Paysafe's shares are now down 21% over the past week.

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