Global Payments Stock Rises on Q2 Revenue Beat - Lavenhill Securities

SAN FRANCISCO - Aug. 10, 2024 - PRLog -- Global Payments (GPN) was one of the most prominent companies on the S&P 500 on Wednesday, after a sales report that exceeded expectations for the second quarter and a dose of optimism on the company's attempts to streamline businesses.

The financial technology company reported sales of $2.57 billion, which is 5% more than the previous year and slightly better than the consensus of analysts, as reported by Visible Alpha. Earnings per share (EPS) were $1.47, representing a 40% increase but falling short of investor forecasts.

The Company Is Going to Keep Streamlining
Cameron Bready, the Chief Executive Officer (CEO) of the firm, praised the continuous process of restructuring the business after the company sold the consumer division of its Netspend business for a total of one billion dollars during the second quarter of the previous year.

According to Bready, "We delivered high single-digit adjusted net revenue growth in the second quarter, excluding the Netspend divestiture," and "we delivered double-digit adjusted earnings per share growth in the second quarter." We have also found important opportunities to better align our organization to continue to deliver sustainable development, and we are in the process of completing the evaluation of our business that we started earlier this year.

The Global Payments Company Reiterates Its Call for Revenue Growth
Global Payments has reaffirmed its projections for the full-year adjusted net revenue growth (which is expected to be between 6% and 7%) and adjusted earnings per share growth (which is expected to be between 11% and 12%). The firm has said that it continues to anticipate that its adjusted operating margin would enhance by a maximum of fifty basis points.

Shares of the firm closed the day on Wednesday with a gain of about 7%, reaching $99.46, although they are still down more than 21% for the year to date.

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