Key Takeaways:
Paymentus Holdings Inc. (PAY) reported first-quarter earnings and revenue that topped analyst forecasts, causing its stock to climb in after-hours trading.
The results surpassed Wall Street expectations, according to data from Zacks Investment Research. The average estimate of five analysts surveyed by Zacks was for earnings of 17 cents per share, with six analysts expecting revenue of $335.4 million.
The Charlotte, North Carolina-based company announced a first-quarter profit of $20.9 million, or 16 cents per share. On an adjusted basis for stock option expense and amortization costs, earnings were 21 cents per share. The electronic bill payment services provider posted revenue of $358.4 million for the period.
Looking ahead, the results prompted the company to provide strong guidance. Paymentus said it expects revenue in the range of $340 million to $350 million for the second quarter ending in June. For the full year, the company anticipates revenue between $1.43 billion and $1.44 billion.
The strong performance and optimistic guidance suggest robust underlying demand for the company's payment processing solutions. Investors will be watching the second-quarter results closely to see if the company can maintain its growth momentum.
This article is for informational purposes only and does not constitute investment advice.
