Global Payments Q3 Profit Declines; Lifts FY14 EPS Outlook - Quick Facts

(RTTNews) - Global Payments Inc. (GPN) reported third-quarter net income attributable to the company of $55.1 million, compared to $58.5 million in the year-ago period. Earnings for the latest quarter rose to $0.76 per share from $0.75 per share in the comparable quarter last year.

Cash earnings for the latest third quarter were $69.7 million, or $0.96 per share, compared with $67.9 million, or $0.87 per share a year ago. Analysts polled by Thomson Reuters estimated earnings of $0.95 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly revenues were $616.45 million, up 7% from $578.75 million in the prior year, while 24 analysts expected revenues of $618.49 million.

Looking ahead to the fiscal year 2014, the company increased its net earnings to a range of $3.48 to $3.53 per share, from its previous range of $3.45 to $3.52 per share and cash earnings to a range of $4.06 to $4.11 per share from its prior estimate of $4.03 to $4.10 per share. Analysts currently expect earnings of $4.10 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 $2.55 billion for 2014.