VeriFone Shares Tick Higher As Earnings Beat, Outlook Misses

VeriFone Systems Inc. shares climbed higher in the extended session Monday after the payment card reader company topped Wall Street estimates for the quarter but its outlook fell short of consensus targets. VeriFone shares rose 1.6% to $16.70 after hours. The company reported adjusted fiscal fourth-quarter earnings of 30 cents a share on revenue of $464 million. Analysts surveyed by FactSet had estimated 29 cents a share on revenue of $460.9 million. Looking ahead, VeriFone sees adjusted fiscal first quarter earnings of 20 cents a share on revenue of $446 million, and adjusted earnings of $1.35 to $1.39 a share on revenue of $1.9 billion to $1.92 billion for the year. Analysts expect 36 cents a share on revenue of $470.7 million for the first quarter, and $1.59 a share on revenue of $2 billion for the year.