Nov 7 (Reuters) - Business payments firm Corpay ( CPAY )

posted a 6% jump in its third-quarter adjusted profit on

Thursday, driven by growth in its corporate and vehicle payments

segments.

Strong corporate spending, buoyed by optimism for a soft

economic landing, helped Atlanta, Georgia-based Corpay ( CPAY ) mitigate

the effects of lower fuel prices compared to last year.

Corpay's ( CPAY ) corporate payments business, which helps business

automate and manage vendor payments, saw its revenue reach

$321.9 million, a 25% jump from the prior year, thanks to higher

client spending across all regions.

The company's vehicle payments segment, its biggest by

revenue, which allows governments and businesses managing

vehicle fleets to track and manage fuel payments, generated

$506.8 million in revenue, marking a 1% increase compared to the

previous year.

"Business fundamentals were quite good with same store sales

and retention improving and sales remaining strong," CEO Ron

Clarke said.

On an adjusted basis, the company posted a profit of $354.5

million, or $5.00 per share, for the quarter ended Sept. 30,

compared to $335.1 million, or $4.49 per share, in the same

period last year.

The business payments firm expects fourth-quarter adjusted

net income per diluted share to be between $5.25 and $5.45,

compared to analysts' expectations of $5.36, according to data

compiled by LSEG.

"We're confident that our revenue growth will accelerate in

the fourth quarter, which positions us well heading into 2025,"

Clarke added.

Additionally, Corpay ( CPAY ) said it anticipates an organic revenue

growth of 9% to 11% in 2025, driven by recovery in its North

America's fleet and lodging segments.