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Why Shift4 Payments Stock Kicked It Into Fifth Gear Today

TheMotleyFool

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Why Shift4 Payments Stock Kicked It Into Fifth Gear Today: https://g.foolcdn.com/editorial/images/754340/happy-businessperson-at-their-computer.jpg

Shares of Shift4 Payments (NYSE: FOUR) jumped Wednesday after the fintech company reported its third-quarter results. The company is growing profitably and hitting financial records. And these are big reasons that Shift4 stock was up by about 13% as of 2:20 p.m. ET.

Shift4's fintech services can be used by many different kinds of businesses, but they're increasingly used by operators of large venues such as sports stadiums. The company even has a partnership with Amazon in stadiums.

In Q3, Shift4 grew its gross revenue by 23% year over year to $675 million. Its net income of $46.5 million was basically flat from the prior-year period, but it was still a quarterly record.

Source Fool.com

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