Global Payments Q2 Profit Rises; Lifts FY14 EPS Outlook - Quick Facts

(RTTNews) - Global Payments Inc. (GPN) reported second-quarter net income attributable to the company of $73.9 million, or $1.02 per share, compared to $70.2 million, or $0.89 per share in the comparable quarter last year.

Cash earnings for the quarter were $77.9 million, or $1.07 per share, compared with $73.6 million, or $0.93 per share a year ago. Analysts polled by Thomson Reuters estimated earnings of $1.03 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly revenues were $634.12 million, up 8% from $588.54 million in the prior year, while 26 analysts expected revenues of $624.92 million.

Looking ahead to the fiscal year 2014, the company increased its net earnings to a range of $3.45 to $3.52 per share, from its previous range of $3.40 to $3.47 per share and cash earnings to a range of $4.03 to $4.10 per share from its prior estimate of $3.98 to $4.05 per share. Analysts currently expect earnings of $4.04 per share for 2014.

The company continues to expect fiscal year 2014 revenues of $2.51 billion to $2.56 billion. Analysts currently expect revenues of $2.54 billion for 2014.