Why Shares of Shift4 Payments Are Falling Today
Shares of the payment processor Shift4 Payments (NYSE: FOUR) had dropped more than 16% in the final hour of trading after the company recently reported earnings results for the first quarter of this year.
Shift4 Payments, which provides small businesses with point-of-sale services through contactless devices and QR code scanners, reported a net loss of $51 million in the quarter, or a loss of $0.62 per share. That's down from a loss of $5.1 million in the first quarter of 2020. Total revenue in the quarter surpassed $239 million, up from just shy of $200 million in the first quarter of 2020.
The loss of $0.62 per share missed analysts' estimates by $0.43 per share, while revenue beat expectations set by analysts.
Source Fool.com
