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VeriFone trades up AH on FQ3 beat

  • VeriFone (PAY) shares trade up 3.3% AH after the company's FQ3 results beat expectations.
  • Services revenue grew 19% Y/Y in FQ3 to $165.2M, partially offsetting a 28.4% decline in Systems solutions revenue to $250.8M. CEO Richard McGinn: "the acquisition of ENZ ... extends to New Zealand our payment-as-a-service business model that is thriving in the Nordics under Point and launching in other geographies such as the U.S."
  • Management guides for FQ4 revenue of $418M-$422M (consensus of $411.85M), EPS of $0.25 (in-line), and FCF of $25M. It also expects FQ1 of 2014 to "reflect modest sequential improvement to the Q4 guidance."
  •  Conference call scheduled for 4:30pm ET, PR 
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