Paymentus: Q1 Earnings Snapshot

Associated Press Finance
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CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Paymentus Holdings Inc. (PAY) on Monday reported first-quarter net income of $704,000.

The Charlotte, North Carolina-based company said it had net income of 1 cent per share. Earnings, adjusted for non-recurring costs, came to 2 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.

The electronic bill payment services posted revenue of $148.3 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $138.9 million.

For the current quarter ending in June, Paymentus said it expects revenue in the range of $142 million to $148 million. Analysts surveyed by Zacks had expected revenue of $444.5 million.

The company expects full-year revenue in the range of $591 million to $606 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PAY at https://www.zacks.com/ap/PAY

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