Global Payments posts 1Q profit, results top Wall Street forecasts

MarketsAssociated Press

Global Payments Inc. (GPN) on Thursday reported fiscal first-quarter profit of $75.4 million.

The Atlanta-based company said it had profit of $1.10 per share. Earnings, adjusted for non-recurring costs, were $1.22 per share.

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The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.

The electronics payment processing company posted revenue of $704.9 million in the period, also beating Street forecasts. Analysts expected $676 million, according to Zacks.

Global Payments expects full-year earnings in the range of $4.65 to $4.75 per share, with revenue in the range of $2.74 billion to $2.79 billion.

Global Payments shares have increased almost 6 percent since the beginning of the year. The stock has risen 36 percent in the last 12 months.

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This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full GPN report: http://www.zacks.com/ap/GPN

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Keywords:Global Payments,Earnings Report