ALLENTOWN, Pa. (AP) — ALLENTOWN, Pa. (AP) — Shift4 Payments, Inc. (FOUR) on Thursday reported first-quarter profit of $20.6 million.
On a per-share basis, the Allentown, Pennsylvania-based company said it had net income of 31 cents. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, came to 54 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The company posted revenue of $707.4 million in the period. Its adjusted revenue was $263.7 million, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $268.6 million.
For the current quarter ending in June, Shift4 Payments said it expects revenue in the range of $312 million to $317 million.
The company expects full-year revenue in the range of $1.3 billion to $1.35 billion.
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