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Global Payments tops Street 2Q forecasts

Global Payments on Thursday reported fiscal second-quarter earnings increased by 1 percent to $74.8 million.

On a per-share basis, the Atlanta-based company said it had net income of $1.10. Earnings, adjusted for non-recurring costs, came to $1.27 per share.

The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.

The electronics payment processing company posted revenue of $697.3 million in the period, also beating Street forecasts. Analysts expected $690 million, according to Zacks.

Global Payments expects full-year earnings in the range of $4.75 to $4.83 per share, with revenue in the range of $2.75 billion to $2.8 billion.

Global Payments shares have declined roughly 2 percent since the beginning of the year. The stock has climbed 22 percent in the last 12 months.

This story was generated by Automated Insights using data from Zacks Investment Research. GPN stock research report from Zacks.