Global Payments (NYSE: GPN) reported Q3 EPS of $0.94, $0.02 better than the analyst estimate of $0.92. Revenue for the quarter came in at $962.2 million versus the consensus estimate of $838.61 million.

Second Quarter 2017 Summary

• GAAP revenues were $962.2 million, compared to $842.6 million in the second quarter of 2016; diluted earnings per share were $0.44 compared to $0.42 in the prior year; and operating margin was 13.7% compared to 7.3% in the second quarter of 2016.
• Adjusted net revenue grew 18.4% to $847.9 million, compared to $716.3 million in the second quarter of 2016.
• Adjusted earnings per share grew 24% to $0.94, compared to $0.76 in the second quarter of 2016.
• Adjusted operating margin expanded 130 basis points to 29.2%.

2017 Outlook

“We are delighted with our performance in the second quarter and year-to-date period, which reflects continued strong execution across our businesses and positions us to increase our outlook for 2017 results,” stated Cameron Bready, Senior Executive Vice President and Chief Financial Officer. “We now expect adjusted net revenue to range from $3.40 billion to $3.475 billion, or growth of 20% to 22% over 2016 and adjusted operating margin to expand by as much as 120 basis points. Adjusted earnings per share are now expected to be in a range of $3.85 to $4.00, reflecting growth of 21% to 25% over 2016. Our outlook for calendar 2017 does not include any impact from the ACTIVE Network acquisition, which we expect to be immaterial to 2017 adjusted earnings per share.”

GUIDANCE:

Global Payments sees FY2017 EPS of $3.85-$4.00, versus the consensus of $3.91. Global Payments sees FY2017 revenue of $3.4-3.475 million, versus the consensus of $3.44 million.

For earnings history and earnings-related data on Global Payments (GPN) click here.