Shift4 Payments (NYSE:FOUR) shares dropped 16% intra-day after the company reported second-quarter earnings below expectations, despite strong revenue growth and an upbeat full-year forecast.

The company posted adjusted earnings of $1.10 per share, missing the $1.22 consensus estimate. Revenue totaled $966.2 million, while gross revenue less network fees rose 29% year-over-year to $413.4 million. Payment volume reached $50.1 billion, up 25% from the prior year.

CEO Taylor Lauber described the quarter as "eventful," noting that the company achieved its strategic goals while delivering results largely in line with expectations.

Net income for the quarter was $41.1 million. Adjusted EBITDA rose 26% year-over-year to $205.1 million, with a margin of 50%.

Shift4 raised its 2025 guidance for gross revenue less network fees to $1.965–$2.035 billion, up from $1.660–$1.730 billion. Adjusted EBITDA is now forecast at $965–$990 million, higher than the prior range of $840–$865 million.