Shift4 Payments shares slump after company cuts annual revenue, profit forecasts

The company reported net income of $7 million, or 8 cents per share, attributable to common stockholders for the three months ended June 30, compared with $24 million, or 32 cents per share, in the year-earlier period.

Aug. 6 (Reuters) - Shift4 Payments cut its annual revenue and adjusted profit forecasts on Thursday as Middle East travel disruptions remain a concern for the payments firm, sending its shares down nearly 18% in early trade.

Here are more details from the company's second-quarter results:

• The company lowered its expectations for gross revenue less network fees to the range of $2.48 billion to $2.53 billion for the fiscal year 2026, down from $2.5 billion to $2.6 billion.
• The midpoint of the revised range is down nearly 200 basis points, reflecting about $25 million hit from Middle East-related travel disruptions and roughly $20 million of FX translation impact, CEO Taylor Lauber said in his shareholder letter.
• The company also cut its forecast for adjusted earnings per share to between $5.15 and $5.35 for the fiscal year 2026, down from previous expectations of between .