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Global Payments Revenue, EPS Come In Below Q3 Estimates, Francisco Partners To Acquire AdvancedMD Business
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Global Payments Revenue, EPS Come In Below Q3 Estimates, Francisco Partners To Acquire AdvancedMD Business
Oct 30, 2024 10:44 PM

Global Payments Inc ( GPN ) reported third-quarter financial results before the market open on Wednesday. Here’s a rundown of the report.

Q3 Revenue: $2.357 billion, versus estimates of $2.381 billion

Q3 EPS: $3.08, versus estimates of $3.12

Total revenue was up 5% on a year-over-year basis and earnings per share climbed 12%. Adjusted operating margin expanded by 40 basis points in the quarter to 46.1%.

“We are pleased with our solid financial performance in the third quarter, which reflects strong execution despite ongoing macroeconomic uncertainty,” said Cameron Bready, CEO of Global Payments ( GPN ).

“These results highlight the resiliency and durability of our business as we move aggressively to position Global Payments ( GPN ) for the next phase of its growth journey as a leader in payments.”

See Also: Eli Lilly Q3 Earnings: Mounjaro Sales More Than Double, Takes $2.98 Billion Hit To Profit, Cuts Annual Outlook, Stock Tanks

The company’s board approved a dividend of 25 cents per share, payable on Dec. 27 to shareholders of record as of Dec. 13.

Global Payments ( GPN ) also announced that it signed a definitive agreement in which Francisco Partners will acquire its AdvancedMD business. Global Payments ( GPN ) will continue to power the company’s payment acceptance capabilities as a long-term partner.

The acquisition is expected to close in the fourth quarter. Financial terms of the deal were not disclosed.

Outlook: Global Payments ( GPN ) expects full-year revenue to be in the range of $9.17 billion to $9.3 billion versus estimates of $9.23 billion, according to Benzinga Pro. The company sees full-year adjusted earnings in the range of $11.54 to $11.70 per share versus estimates of $11.57 per share.

GPN Price Action: Global Payments ( GPN ) shares were up 1.89% at $100.94 at the time of publication, according to Benzinga Pro.

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