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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Global Payments Reports Revenue And Earnings Growth 0 comments
    Oct 2, 2013 9:46 AM | about stocks: GPN

    Originally published at www.seclive.com

    Filing in Focus: Global Payments 10-Q, October 1, 2013

    Global Payments Inc. (NYSE:GPN) announced its financial results for the first quarter of fiscal year 2014, reporting revenue and earnings growth. Revenues grew 7% from $590.3M this quarter last year to $629.7M. Net income increased considerably from last year's $46.7M and $0.59 earnings per share to $64.6M, or $0.87 earnings per share. Global Payments intends to enter an accelerated share repurchase plan by repurchasing up to $100M of company stock as part of a $250M repurchase program authorized by the board of directors. The company maintains its outlook for annual revenue but due to the share repurchase plan, has increased its earnings per share projections by $0.05 to the $3.98 to $4.05 range. CFO and Executive Vice President David Mangum remarked that the company is pleased with its start to the year and looks forward to the share repurchases to return value to shareholders.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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