Corpay reports higher quarterly profit on spending resilience

(Reuters) -Business payments firm Corpay reported a rise in second-quarter profit on Wednesday, driven by growth in its corporate and vehicle payment divisions.

Consumer spending remained resilient during the quarter despite trade policy uncertainty and inflationary pressures affecting discretionary expenditure.

Atlanta, Georgia-based Corpay provides payment and spend management solutions aimed at helping businesses and consumers better manage their expenses.

The company's corporate payments division, which automates and manages vendor payments, reported revenue of $391.9 million, reflecting a 36% increase compared to the prior-year quarter.

"Our corporate payments segment delivered continued terrific performance driven by our broad geographic coverage and implementations," CFO Peter Walker said in a statement.

Net income attributable to Corpay came in at $284.2 million, or $3.98 per share, for the three months ended June 30, compared with $251.6 million, or $3.52 per share, in the same period a year earlier.

Shares of the company, which have declined nearly 7% so far in 2025, were down marginally in extended trading.

(Reporting by Pritam Biswas in Bengaluru; Editing by Mohammed Safi Shamsi)

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