BUZZ-Paysafe slumps after Q3 results

Reuters11-14
BUZZ-Paysafe slumps after Q3 results

** Shares of payments platform Paysafe PSFE.N slide as much as 27.4%; last down 25.6% at $18.96

** PSFE reported on Tuesday Q3 adjusted profit of $31.4 mln, or 51 cents/shr, compared to $35.3 mln, or 57 cents/shr, a year earlier

** Brokerage BTIG says if it had to pick at something in PSFE's Q3 results, it would point to the decelerating direct sales growth of small- and medium-sized businesses that also impacted gross profit margin

** Brokerage says the light Q4 2024 implied revenue growth forecast of 5.3% might have also disappointed investors

** Wall Street expects PSFE's Q4 revenue to grow 6.5%, according to data compiled by LSEG

** BTIG says the selloff represents an attractive buying opportunity, as nothing in the PSFE story has fundamentally changed in its view

** As of last close, PSFE shares up 99.1% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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