Why Shift4 Payments Stock Popped Today
Despite "recent political commentary and capital markets volatility," Shift4 just had a great Q1.
Payment processing solutions company Shift4 Payments (NYSE: FOUR) surged ahead 10% through 11 a.m. ET Tuesday after reporting mixed earnings this morning.
On one hand, Shift4 beat earnings forecasts soundly, reporting $1.07 per share in adjusted profit, where Wall Street expected only $0.95. On the other hand, revenue came up short. The company recorded $848.3 million, less than the $862 million analysts had forecast.
Company president Taylor Lauber boasted record payment volume in the year's first quarter, $45 billion, calling payment volumes "healthy" and noting "recent political commentary and capital markets volatility have not translated into reduced consumer spending across our merchants."
