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Global Payments sees net income slide YOY in fiscal Q1, raises fiscal '17 EPS outlook

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Global Payments sees net income slide YOY in fiscal Q1, raises fiscal '17 EPS outlook

GlobalPayments Inc. reported net income attributable to the company of$85.1 million, or 55 cents per share, for the first fiscal quarter ended Aug.31, compared with $86.6 million, or 66 cents per share, in the year-ago quarter.

Adjusted net income for the period was $133.7 million, or 86cents per share, compared with $103.0 million, or 79 cents per share, in theprior-year period.

The S&P Capital IQ consensus normalized EPS estimate forthe quarter was 84 cents.

GAAP revenues for the quarter totaled $939.5 million, upfrom $748.8 million in the year-ago period. Adjusted net revenue increased to$817.3 million from $537.0 million in the prior-year quarter.

Global Payments raised its outlook for fiscal 2017 adjustedEPS to a range of $3.45 to $3.55, compared with previous outlook for cash EPSof $3.40 to $3.50. The company continues to expect adjusted net revenue forfiscal 2017 to be in the range of $3.20 billion to $3.30 billion.The company now expects GAAP EPS of $1.88 to $1.98 versus the previouslyexpected range of $1.83 to $1.93.

The S&P Capital IQ consensus normalized EPS estimate forfiscal 2017 is $3.48.