Payment processor Global Payments’ fiscal 3Q, having ended February 28, saw revenues up 15% to $456.4 million compared to $398.5 million in the prior fiscal year and diluted earnings per share up to $0.60 compared to $0.58 in the prior year. Although revenue is up from the prior quarter’s figure of $443.5 million- an 8% increase from the prior year, Global Payments’ earnings per share missed the mark in this time around, which analysts were projecting to hit 64 cents a share.
Net Income, meanwhile, was $54.1 million, up from the 51.5 million posted in the year ago quarter. This compares with net income the prior quarter, which fell 15% and saw a net income of $53.5 million for the three months ended Nov. 30, from $62.8 million in the prior-year 2/Q. With these figures, the company now expects a 2011 FY revenue of $1,800 million to $1,820 million, or 10% to 11% growth over fiscal 2010 which compares to the previous quarter’s range of $1,780 million to $1,820 million, or 8% to 10% growth over fiscal 2010. Earnings per share from continuing operations expectations are now $2.70 to $2.77, reflecting growth of 6% to 9% compared to previous quarter’s range of $2.66 to $2.77, or 5% to 9% growth(Cardflash Library, 2010/08/26, 2010/09/15, 2011/01/07).