UPDATE: Global Payments Posts Drop In Q1 Profit

Global Payments

reported a drop in its first-quarter profit. Global Payments' quarterly profit declined to $46.6 million, or $0.59 per share, versus $63.9 million, or $0.79 per share, in the year-ago period. Its revenue climbed 9 percent to $590.2 million, while cash earnings came in at $0.87 per share. Global Payments shares fell 0.35 percent to $43.64 in after-hours trading.