Shares of online payments platform Paysafe Limited (PSFE) are rallying more than 21% Tuesday morning after the company announced a share buyback of up to $50 million of shares.
For the third quarter, Paysafe reported net loss of $2.55 million, or $0.04 per share, compared with profit of 978,000 or $0.02 per share in the same quarter a year ago.
Excluding special items, the company posted earnings of $35.3 million, or $0.57 per share.
Revenue for the quarter was $396.4 million, an increased 8%.
PSFE is at $12.97 currently. It has traded in the range of $9.25 – $24.25 in the last 1 year.
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