Why Shares of Shift4 Payments Are Surging Today

Shares of Shift4 Payments (NYSE: FOUR) jumped nearly 20% as of 12:15 p.m. EST after the payment processor reported earnings results for the third quarter of the year and a new partnership.

Shift4 reported a loss per share of $0.17 on total revenue of nearly $378 million, both numbers that missed on analyst estimates.

Shift4 also left most of its previous guidance, including end-to-end payment volume, total revenue, and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), unchanged. The company raised full-year guidance for gross revenue minus network fees.

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Source Fool.com