Aug 6 (Reuters) - Business payments firm Corpay ( CPAY )
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 ( CPAY ) 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 ( CPAY ) 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.