What's Going On With Global Payments Stock?

What's Going On With Global Payments Stock?

Global Payments Inc GPN shares are trading lower Monday after the company reported mixed financial results.

Global Payments reported third-quarter revenue of $2.058 billion, which beat average analyst estimates of $2.04 billion, according to Benzinga Pro. The company reported quarterly adjusted earnings of $2.48 per share, which missed average analyst estimates of $2.49 per share. 

"We are pleased with our strong financial performance in the third quarter, which was consistent with our expectations despite ongoing macro headwinds," said Josh Whipple, senior executive vice president and CFO of Global Payments.

Global Payments reaffirmed its full-year adjusted earnings guidance. The company expects full-year earnings to be in a range of $9.53 to $9.75 per share versus average estimates of $9.51 per share. 

Global Payments also said it expects full-year revenue growth of 10% to 11% compared to 2021. 

"Our 2022 outlook presumes continuing recovery from the pandemic worldwide and a stable global macroeconomic environment throughout the remainder of this calendar year," Whipple added.

Global Payments is a provider of payment processing and software solutions with a focus on serving small and midsize merchants. 

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GPN Price Action: Global Payments has a 52-week high of $153.76 and a 52-week low of $104.23.

The stock was down 6.34% at $117.37 at time of publication.

Photo: rupixen from Pixabay.

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