Digital Transactions Authoritative, insightful and timely information for payments professionals
By Digital Transactions News Staff
Bolstered by solid growth in the U.S. and Asia, merchant processor Global Payments Inc. on Thursday reported total revenues of $697.3 million for its second quarter of fiscal 2015 ended Nov. 30, up 10% from $634.1 million a year earlier.
Second-quarter net income increased only 1.2% to $74.8 million, but operating income jumped nearly 11%, and Global said it expects profits for the full year to increase 15% to 17% on a per-share cash basis. The company’s share price on the New York Stock Exchange jumped 7.5% in early-morning trading.
The United States, which accounts for 58% of Atlanta-based Global Payments’ revenues, saw revenues jump 11.9% to $404.8 million from $361.8 million in fiscal 2014’s second quarter. Canadian revenues slipped 1.5% to $84 million. Operating income for the North American merchant segment increased 5.4% to $74.2 million.
European revenues grew 8.9% to $160 million while revenues from Asia-Pacific, Global Payments’ smallest but fastest-growing region, jumped 20.7% to $48.5 million.
During the quarter, Global Payments completed its acquisition of Ezi Holdings Pty Ltd. (Ezidebit), a processor serving Australia and New Zealand and expanding in Asia, for about $268 million. The company also established a merchant-acquiring joint venture with Bank of the Philippine Islands.
