What happened 

Shares of Shift4 Payments (FOUR 0.15%), a payment processor, initially jumped by as much 11.4% before falling later in the trading day after the company reported mixed third-quarter results. 

Shift4 beat analysts' consensus bottom-line estimate for the quarter, but its revenue missed expectations.

The fintech stock was down by 6.6% as of 12:58 p.m. ET. 

So what 

Shift4 reported non-GAAP (adjusted) earnings per share of $0.44 in the third quarter, which was up from $0.26 in the year-ago quarter and slightly ahead of Wall Street's consensus estimate of $0.43 per share. ​ 

A person appears to be confused while looking at a phone.

Image source: Getty Images.

But the company's total revenue of $547.3 million -- up 45% from the year-ago quarter -- missed analysts' average estimate of $550.4 million. 

Shift4 CEO Jared Isaacman said in a press release that the company had a "reasonably strong quarter" and highlighted the fact that the company set several new quarterly records, including reporting $46.4 million in net income, up from a loss of $13.8 million in the year-ago quarter. 

Now what 

Shift4's management said that fiscal 2022 revenue will be in the range of $1.95 billion to $2 billion, which is below analysts' consensus estimate of $2.01 billion. 

With Shift4 reporting better-than-expected earnings but missing top-line estimates -- as well as issuing revenue guidance slightly below expectations -- investors tried to gauge the company's latest results and ultimately were disappointed with what they saw.