Oct 30 (Reuters) - Global Payments' ( GPN )

third-quarter profit fell nearly 13% on Wednesday, as higher

costs offset gains from the fees it charges merchants for the

company's transaction processing technology.

The company also said it will sell its medical software

unit, AdvancedMD, to technology-focused investment firm

Francisco Partners.

WHY IT'S IMPORTANT

Fees earned by payment-tech providers are correlated to

spending volumes and can offer cues on the financial health of

the U.S. consumer.

Investors are closely scrutinizing such commentary,

especially after major players such as American Express ( AXP )

reported a softer spending environment.

CONTEXT

Global Payments ( GPN ) is in the midst of a strategy reset as it

looks to streamline operations and divest non-core assets. It

has labeled 2025 as a "transition year" and promised to return

more capital to shareholders.

The company unveiled a $600 million accelerated share

repurchase plan on Wednesday.

BY THE NUMBERS

Total operating expenses grew nearly 11% from a year earlier

to $2.13 billion in the three months ended Sept. 30.

Revenue grew 5.1% to $2.60 billion. Merchant solutions,

Global Payments' ( GPN ) biggest business, fetched nearly 6% higher

revenue than a year earlier.

Net profit attributable to the company fell to $315.1

million, or $1.24 per share, compared with $361.8 million, or

$1.39 per share, a year earlier.

MARKET REACTION

Shares were up 2% in thin trading volume before market open.