Wednesday, April 6, 2016

Global Payments Earnings

Global Payments released fiscal Q3(Feb 29) earnings this morning. The earnings release can be found here.  Earnings came in at $0.53 for the quarter, and at $0.70 on an adjusted basis.

Here is what Jeff Sloan(CEO) had to say.

“We delivered strong financial results for the quarter, accelerating growth across our key markets. We are especially pleased with our performance in North America and Europe, with sequentially higher adjusted net revenue growth in the United States direct channel and the United Kingdom,” said Chief Executive Officer Jeff Sloan. “We also grew margins in each region, highlighting solid execution.” 

Sloan continued, “We are delighted with the progress we have made on the partnership with Heartland Payment Systems and look forward to closing the transaction later this month. The combination with Heartland will transform Global Payments into the leading provider of payments technology solutions worldwide.”

Shares are up over 8% to $70 a share as of writing.  The market clearly liked this one. The stock has had a huge rally from the low $50's to $70 so I might not get a chance for another buy as hoped. I'll keep my eye out for one more opportunity to buy under $60, and I shall take it as lesson learned for not adding in March when I knew the shares were still at a good price.  

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