Global Payments Q4 Profit Rises, Guides 2016 EPS Above View - Quick Facts

(RTTNews) - Electronic payments processor Global Payments, Inc. (GPN) reported that fourth-quarter net income to company increased to $65.33 million or $0.99 per share from $51.63 million or $0.72 per share in the prior-year quarter. Cash earnings per share was $1.22 for the quarter, compared to last year's $1.09.

On average, 26 analysts polled by Thomson Reuters expected the company to report earnings of $1.18 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter increased 4.8 percent to $706.55 million from $673.98 million in the same quarter last year. Analysts expected revenue of $701.46 million for the quarter.

For fiscal 2016, the company expects cash earnings in a range of $5.60 to $5.78 per share, on projected revenues between $2.87 billion and $2.95 billion and adjusted revenues between $2.06 billion and $2.10 billion. Street is currently looking for full-year 2016 earnings of $5.44 per share on annual revenues of $2.96 billion.

Global Payments' Board of Directors also approved a quarterly dividend of $0.02 per share, payable August 28 to shareholders of record as of August 14, 2015.

Further, Global Payments' Board of Directors expanded its share repurchase authorization by an incremental $300 million, bringing its total current authorization to $403 million.