Global Payments Q3 Profit Increases, Sees FY16 Results Above View

(RTTNews) - Global Payments Inc. (GPN) Wednesday announced a 10.4 percent increase in third quarter net profit attributable to the company to $69.06 million from $62.57 million last year. Earnings per share increased 12.8 percent to $0.53 from $0.47 a year ago.

On average, 24 analysts polled by Thomson Reuters expected the company to earn $0.67 per share. Analysts estimates usually exclude special items.

Revenue for the quarter rose 2.2 percent to $679.94 million from $664.98 million in the previous year. Wall Street expected the company to earn $493.68 million.

Looking ahead to the fiscal 2016, the company expects earnings growth of 15 to 18 percent in a range of $2.36 to $2.43 per share. Cash earnings per share is expected to grow 16 to 19 percent in a range of $2.93 to $3.00. Analysts expect $2.94 per share on revenue of $2.08 billion.

Global Payments sees growth of 4 to 6 percent in revenue for the fiscal 2016, in a range of $2.87 to $2.95 per share.

Chief Executive Officer Jeff Sloan said, "We are delighted with the progress we have made on the partnership with Heartland Payment Systems and look forward to closing the transaction later this month. The combination with Heartland will transform Global Payments into the leading provider of payments technology solutions worldwide."