12:39 PM EDT, 08/05/2025 (MT Newswires) -- Shift4 Payments' ( FOUR ) shares slumped intraday Tuesday after the payments and commerce technology company reported weaker-than-expected second-quarter earnings and announced the departure of Chief Financial Officer Nancy Disman.

Adjusted per-share earnings fell to $1.10 from $1.39 a year earlier, below the FactSet-polled consensus of $1.19.

The adjusted EPS was diluted due to an additional 10 million shares related to a convertible preferred stock issuance in May, Disman said at an earnings call with analysts, according to a FactSet transcript.

The company completed a $3.3 billion capital raise in May that included the issuance of $1 billion in mandatory convertible preferred stock.

Shift4 announced the appointment of board member Christopher Cruz as its next CFO, succeeding Disman, who resigned, effective Sept. 1.

"Chris saw the potential in the business and the team far before we were the public company we are today and, through Searchlight Capital purchased a 60% stake in Shift4 in 2016," Chief Executive Taylor Lauber said in a shareholder letter. "He has been a board member ever since and at the center of our most important decisions."

The company's shares plunged nearly 17% in Tuesday trade.

Revenue less network fees jumped 29% annually to $413.4 million in the second quarter, above the $410.1 million modeled by analysts. Gross revenue rose 17% to $966.2 million.

Shift4 raised its full-year revenue outlook to a range of $1.97 billion to $2.04 billion, excluding network fees, from a prior range of $1.66 billion to $1.73 billion. The revised guidance takes into account a $330 million contribution from recently-acquired Global Blue, a specialty payments and technology platform.

The company expects third-quarter revenue without network fees at $590 million, compared with market expectations of $441.2 million.

Price: 85.50, Change: -16.71, Percent Change: -16.35