By Sam Boughedda
Investing.com -- Nuvei Corp (NASDAQ:NVEI) reported its financial results for the fourth quarter and full-year, sending its shares up 13.86%.
Revenue of $211.9 million was reported for the fourth quarter of 2021, above the $209.23 million projected by analysts and up 83% from the previous year. In addition, earnings per share beat analyst expectations of 45 cents, coming in at 47 cents per share.
The electronic payment processing company revealed that total volume increased 127% to $31.5 billion from $13.9 billion during the quarter, while e-commerce represented 88% of total volume.
For the full year, revenue increased 93% to $724.5 million. In 2021, total volume rose 121% to $95.6 billion from $43.2 billion, with e-commerce making up 86% of total volume.
"Our team delivered an excellent quarter in which we exceeded our financial outlook, capping off an exceptional year," said Nuvei Chair and CEO Philip Fayer.
The company sees revenue for the first quarter of 2022 between $208 million and $214 million and total volume for the first quarter between $28 billion and $29 billion.