Why Is Global Payments Stock Trading Higher Tuesday

Global Payments Inc GPN reported second-quarter FY23 adjusted net revenue growth of 7% year-on-year to $2.17 billion, slightly missing the consensus of $2.19 billion. Adjusted EPS of $2.62 beat the consensus of $2.58.

Merchant Solutions adjusted revenue stood at $1.68 billion (+17.3%), and Issuer Solutions' adjusted revenue was $505.3 million (+4.3%).

The adjusted operating margin expanded 100 basis points to 44.8%. 

Global Payments' approved a dividend of $0.25 per share. It held $1.92 billion in cash and equivalents.

CEO Cameron Bready continued, "We also remain delighted with the EVO Payments acquisition and the progress we have made with our integration activities. We are even more excited now about our prospects together as a combined business than we were at the time we announced the transaction, and remain on course to deliver at least $125 million in run-rate synergies."

Outlook: Global Payments raised FY23 adjusted net revenue to $8.660 billion - $8.735 billion (prior $8.635 billion - $8.735 billion). The consensus stands at $8.67 billion.

Global Payments forecasts adjusted EPS of $10.35 - $10.44 (prior $10.32 - $10.44). The consensus stands at $10.34.

Price Action: GPN shares traded higher by 7.82% at $118.19 on the last check Tuesday.

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