Now what: Global Payments had a solid quarter, and after a few months of languishing, the stock is once again near its 52-week high. Shares of Global Payments have surged over the past three years, more than tripling in that time.
Going forward, Global Payments expects its acquisition of Heartland Payment Systems to close during its fiscal fourth quarter, meaning a portion of Heartland's results may be included in Global Payments' fourth-quarter numbers. The acquisition will boost adjusted net revenue to $3 billion per year, according to the company.
While Global Payments' results weren't too far above analyst expectations, a small earnings beat and improved guidance was enough to send the stock soaring.
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The article Why Global Payments Inc. Jumped on Wednesday originally appeared on Fool.com.
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