Have you been eager to see how Global Payments Inc. (GPN - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this company’s earnings release this morning.
An Earnings Beat
Global Payments came out with adjusted earnings per share of 94 cents, beating the Zacks Consensus Estimate of 87 cents and grew 24% year over year
Better-than-expected earnings were primarily due to higher revenues across its markets.
Global payments posted revenues of $847.9 million which grew 18.4% year over year.
Key Stats to Note
Total operating expense of $830.4 million increased 6.3% year over year led by an increase in cost of service.
Adjusted operating margin improved 130 basis points to 29.2%.
The company also approved quarterly dividend of 1 cent per share to be paid on Sep 29, 2017.
The company announced to acquire communities and sports divisions of ACTIVE Network, that provides payment technology solutions for activity and participant management.
Followed by strong earnings performance in the first half of 2017, the company raised its outlook for 2017 adjusted earnings to a range of $3.85 to $4.00 per share which reflects growth of 21% to 25% over 2016 and adjusted net revenues to lie between $3.4 billion to $3.475 billion, reflecting an increase of 20% to 22% from 2016.
What Zacks Rank Says
Global Payments carries a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here)
Check back later for our full write up on this Global Payments earnings report!
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