Paysafe Posts Wider Loss In Q2

(RTTNews) - Paysafe (PSFE) posted a second quarter net loss of $50.1 million compared to a loss of $1.4 million, prior year. Net loss per share was $0.85 compared to a loss of $0.02. Net loss included a charge to income tax expense of $30.6 million related to the recognition of a valuation allowance against the company's UK deferred tax assets. Adjusted net income per share declined to $0.46 from $0.59. Analysts on average expected the company to report profit per share of $0.46, for the quarter. Analysts' estimates typically exclude special items.

Second quarter revenue was $428.22 million compared to $439.92 million, last year. Organic revenue growth was 5%, for the quarter.

Shares of Paysafe are up 12% in pre-market trade on Tuesday.

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