Vantiv Q2 Results Top Estimates

(RTTNews) - Vantiv Inc. (VNTV) reported that its net income attributable to the company for the second quarter ended June 30, 2017 rose to $68.78 million from $59.33 million in the prior year.

Net income per share increased 11% to $0.42 from $0.38 in the prior year period. Pro forma adjusted net income per share increased 19% to $0.83 as compared to $0.70 in the prior year period.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.82 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue increased 12% to $998.8 million as compared to $891.2 million in the prior year period. Net revenue increased 10% to $530.0 million as compared to $480.5 million in the prior year period. Analysts expected revenue of $525.12 million for the quarter.

For the full-year 2017, net revenue is expected to be $2.100 billion to $2.120 billion, representing an increase of 10% to 11% above the prior year. On a GAAP basis, net income per diluted share attributable to Vantiv, Inc. is expected to be $1.31 - $1.36 for the full-year 2017. Pro forma adjusted net income per share is expected to be $3.31 - $3.36 for the full-year 2017. Wall Street currently is looking for fiscal year 2017 earnings of $3.27 per share on annual revenues of $2.11 billion.

For the third quarter of 2017, net revenue is expected to be $544 to $554 million, representing an increase of 11% to 13% above the prior year period. On a GAAP basis, net income per share attributable to Vantiv, Inc. is expected to be $0.41 - $0.43 for the third quarter of 2017. Pro forma adjusted net income per share is expected to be $0.88 - $0.90 for the third quarter of 2017. Analysts expects the company to report earnings of $0.86 per share and revenues of $547.05 million for the third-quarter.