Atlanta-based Global Payments (GPN) reported Q2 calendar revenues grew 5% to $706.5 million, compared to $674.0 million in the year ago quarter. For fiscal 2016, the company expects annual adjusted net revenue of $2.06 billion to $2.10 billion, or 6% to 8% growth – really?
The Company says it is pleased to introduce a new adjusted net revenue disclosure that better aligns our reporting with how we manage and measure our performance internally. We are also modifying its reporting convention for cash earnings to exclude expenses associated with share-based compensation.
During the quarter, GPN rolled-out out the OptBlue program for American Express Card acceptance in Canada this week. OptBlue offers small business merchants a single source for payment processing, pricing, underwriting, risk management, settlement, reporting, support and a consolidated statement.
Also, Toronto-based Virtual Next teamed with Global Payments to offer its Canadian merchants a new mobile payment, loyalty, promotion and gift card service.
Q2/14: $674 million
Q3/14: $705 million
Q4/14: $697 million
Q1/15: $705 million
Q2/15: $707 million
Source: Global Payments Network; CardData
For data, background and forecasts on GPN: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).