Payfare (TSE:PAY) Second Quarter 2024 Results

Key Financial Results

• Revenue: CA$56.0m (up 20% from 2Q 2023).

• Net income: CA$4.90m (up 132% from 2Q 2023).

• Profit margin: 8.7% (up from 4.5% in 2Q 2023). The increase in margin was driven by higher revenue.

• EPS: CA$0.10 (up from CA$0.044 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Payfare Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 9.1%.

Looking ahead, revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Diversified Financial industry in Canada.

Performance of the Canadian Diversified Financial industry.

The company's shares are down 3.3% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. See our latest analysis on Payfare's balance sheet health.

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