Global Payments Q1 Profit Rises; Increases FY16 Cash EPS Outlook - Quick Facts

(RTTNews) - Global Payments Inc. (GPN) reported that its first quarter net income attributable to company increased to $86.7 million from $75.4 million, a year ago. Earnings per share were $1.32, compared to $1.10. Cash earnings per share was $1.57, for the quarter.

On average, 26 analysts polled by Thomson Reuters expected the company to report profit per share of $1.43 for the quarter. Analysts' estimates typically exclude special items.

GAAP revenues grew 6% to $748.8 million, compared to $704.9 million in the first quarter of prior year. Adjusted net revenue grew 8% to $537.0 million, compared to $495.2 million in the first quarter of fiscal 2015. Analysts expected revenue of $530.53 million for the quarter.

Global Payments increased its outlook for annual fiscal 2016 earnings per share on a cash basis to a range of $5.77 to $5.92. The company continues to expect adjusted net revenues to range from $2.06 billion to $2.10 billion. Analysts expect the company to report earnings per share of $5.72 on revenue of $2.13 billion.

Global Payments' Board has declared a two-for-one stock split of the company's common stock to be effected in the form of a stock dividend of one additional share of common stock for each outstanding share of common stock. The stock dividend will be payable on November 2, 2015 to all shareholders of record as of October 21, 2015. A first quarter dividend of $0.01 per share, after giving effect to the two-for-one stock split, will be payable on November 27, 2015 to shareholders of record as of November 13, 2015.