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Repay Holdings rises after fourth-quarter profit beats forecasts

** Payment solutions provider Repay HoldingsRPAYShares rose 4% to $9.03 pre-market

** After the close on Thursday, RPAY reported ( link ) fourth-quarter adjusted net income of 27 cents an hour, compared with analysts' expectations of 21 cents an hour - LSEG data

** Fourth-quarter revenue rose 5% to $76 million, also above expectations of $70.4 million, driven by strong growth in consumer payments.

** Card payment volume fell 3% to $6.42 billion in the quarter compared with the same period last year.

** We ended the year seeing continued demand from our existing customers for the adoption of additional payment features," said CEO John Morris.

** RPAY forecast fiscal 2024 revenue in the range of $314 million to $320 million, compared with expectations of $318.4 million.

** Share price up 6.1% in 2023