Global Payments’ net income jumps to £133 million in the fourth quarter.


Global Payments Inc. (NYSE: GPN) said on Monday that its profit in the fiscal fourth quarter came in better than expected and indicated a new strategic partnership with Google. CEO Jeff Sloan of Global Payments commented on the company’s collaboration with Google on Monday and said:

“We are delighted to embark on this transformational journey with Google to further enhance our industry-leading merchant solutions ecosystem with additional scale, reach and speed of market to seamlessly deliver new innovative, digital technologies to customers worldwide. This unique partnership will accelerate our technology-enabled, software-driven strategy and further enhance our position as the partner of choice for all manner of merchants worldwide.”


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Global Payments’ Q4 financial results versus analysts’ estimates

Global Payments said its net income in the fourth quarter printed at £133.19 million that translates to 44.40 pence per share. In the comparable quarter of last year, it had reported a much lower £74.97 million of net income or 24.75 pence per share.

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The fintech company said it earned £1.31 per share in Q4 on an adjusted basis versus the year-ago figure of £1.18 per share. Global Payments said that it generated £1.40 billion of revenue in the recent quarter as compared to a higher £1.45 billion in the same quarter last year.

According to FactSet, experts had forecast the company to post £1.38 billion of revenue in the fourth quarter. Their estimate for adjusted per-share earnings stood at £1.28. In October 2020, Global Payments had expressed plans of offloading Netspend for over £1.55 billion.

Global Payments’ guidance for the full financial year

For the full financial year, Global Payments now forecasts its adjusted net revenue to fall in the range of £5.46 billion to £5.53 billion. The American company expects up to £5.86 per share of annual adjusted earnings. In comparison, analysts are calling for £5.52 billion of full-year revenue for Global Payments and £5.82 per share of annual adjusted earnings.

As per the Atlanta-based company, its board authorised an increase in its share buyback programme on Monday, pushing the total available amount up to £1.09 billion.

Global Payments is currently more than 3% down year to date in the stock market. Its performance in 2020, on the contrary, was fairly upbeat with an annual increase of more than 15%. At the time of writing, the American financial technology services company has a market cap of £43.55 billion and has a price to earnings ratio of 119.31.  



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