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- Shift4 Payments, Inc FOUR reported first-quarter FY23 gross revenue growth of 36% year-on-year to $547 million, beating the consensus of $524.98 million.
- Payments-based revenue improved from $371.5 million a year ago to $511 million.
- Subscription revenue was $36 million, up from $30.4 million a year ago.
- Gross revenue minus network fees were up 34.4% Y/Y to $200 million.
- End-to-end payment volume climbed 66% Y/Y to $22.3 billion.
- Adjusted EPS of $0.51 beat the consensus of $0.36.
- Adjusted EBITDA improved 102% Y/Y to $89.3 million. The margin expanded by 1,500 bps to 45%.
- Buyback: The board approved a buyback of up to $250 million.
- Outlook: Shift4 boosted FY23 gross revenue guidance to $2.55 billion - $2.70 billion, up from $2.50 billion -$2.70 billion versus the consensus of $2.66 billion.
- Shift4 raised FY23 Gross revenue minus network fees to $920 billion - $955 billion, up from $915 million - $955 million.
- Price Action: FOUR shares traded lower by 8.53% at $60.22 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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