By Sam Boughedda
Investing.com -- Paysafe Ltd (NYSE:PSFE) stock gained more than 17% Wednesday following its fourth-quarter earnings, which saw revenue beat analyst expectations.
Paysafe, which provides digital wallets for payment methods, announced revenue of $371.66 million. However, analysts polled by Investing.com anticipated revenue of $357.35 million.
Net income attributable to the company was $90.3 million, compared to a net loss of $3.4 million in the fourth quarter 2020.
The company reported a total payment volume of $31.5 billion, an increase of 20% compared to the prior year.
“We saw continued strong performance from US Acquiring and the turnaround of our digital wallet business is well underway with the actions we’ve taken driving positive results, repositioning the business for success, and enabling us to absorb market risks in Europe,” said Philip McHugh, CEO of Paysafe.
The company sees revenue for the first quarter of 2022 between $355 and $365 million, with full-year revenue expected to be in a range of $1.53 billion t $1.58 billion.