Global Payments Q3 Profit Tops Estimates

(RTTNews) - Global Payments Inc. (GPN) reported that its third quarter adjusted earnings per share increased 1% to $1.71, compared to $1.70 in the third quarter of 2019. On average, 32 analysts polled by Thomson Reuters expected the company to report profit per share of $1.66, for the quarter. Analysts' estimates typically exclude special items.

Third quarter GAAP revenues were $1.92 billion, compared to $1.11 billion in the third quarter of 2019. Adjusted net revenues declined 4% to $1.75 billion. Analysts expected revenue of $1.73 billion, for the quarter.

"The Board of Directors has increased our share repurchase authorization to $1.25 billion, and we look forward to re-commencing the return of capital to our shareholders and managing our pipeline," said Paul Todd, CFO.

Global Payments' Board approved a dividend of $0.195 per share payable December 31, 2020 to shareholders of record as of December 17, 2020.