Total System Services Q2 Results Top Estimates; Boosts FY15 Outlook

(RTTNews) - Total System Services, Inc. (TSS) reported net income for the second quarter of $82.8 million or $0.45 per share, compared to $109.9 million or $0.58 per share for the year-ago quarter.

Excluding items, adjusted earnings for the latest quarter were $0.58 per share.

Total revenues for the second quarter rose 15.1% to $692.65 million from $602.04 million a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.54 per share on revenue of $657.08 million for the second quarter. Analysts' estimates typically exclude special items.

For the full year 2015, the company now forecasts total revenue of $2.667 billion to $2.716 billion and adjusted earnings of $2.25 to $2.29 per share. Previously, the company forecast total revenue of $2.620 billion to $2.660 billion and adjusted earnings of $2.19 to $2.23 per share.

Analysts currently expect the company to earn $2.24 per share on revenue of $2.67 billion for the full year 2015.