Paysafe Shares Plunge After Third Quarter Gains, 2021 Revenue Guidance Lowered

Paysafe Limited (PSFE) – PAYSAFE LTD Report Received Shares fell sharply on Thursday after the online payment processing platform, backed by Blackstone Group and CVC Capital Partners, posted weaker-than-expected third-quarter earnings and lowered its full-year earnings forecast.

Paysafe reported adjusted profit of $106.4 million, with revenue of $353.6 million, as both numbers fell 1% from the same period last year and fell short of Street forecasts.

Looking at the final months of the year, Paysafe said it sees adjusted profits in the $425 million to $435 million range, down $60 million from its previous forecast, and revenue of between $1. 47 and $1.48 billion, down from $700 million at the higher end.