Global Payments Q4 Profit Tops Estimates; Adj. Revenue Up 8%

(RTTNews) - Global Payments Inc. (GPN) reported that its fourth-quarter net income attributable to Global Payments increased to $361.3 million from $249.3 million, last year. Earnings per share was $1.38 compared to $0.94. Adjusted earnings per share increased 10% to $2.65, compared to $2.42. On average, 30 analysts polled by Thomson Reuters expected the company to report profit per share of $2.64, for the quarter. Analysts' estimates typically exclude special items.

GAAP revenues were $2.43 billion, compared to $2.25 billion, last year. Adjusted net revenues increased 8% to $2.19 billion, compared to $2.02 billion. Analysts on average had estimated $2.18 billion in revenue.

For 2024, the company expects adjusted net revenue to be in a range of $9.17 billion to $9.30 billion, reflecting growth of 6% to 7% and adjusted earnings per share to be in a range of $11.54 to $11.70, reflecting growth of 11% to 12% over 2023.

Global Payments' Board approved a dividend of $0.25 per share payable on March 29, 2024 to shareholders of record as of March 15, 2024. The Board also approved an increase in the company's share repurchase authorization capacity to $2 billion.

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