Worldpay Inc. reported a second-quarter net loss attributable to the company of $2.9 million, or 1 cent per share, compared to net income of $68.8 million, or 42 cents per share, in the year-ago quarter.
The GAAP loss was attributed primarily to transition, acquisition and integration costs and intangible amortization related to the Vantiv Inc./Worldpay Group PLC deal.
Adjusted net income for the quarter increased year over year to $327.1 million, or $1.04 per share, compared to $164.7 million, or 83 cents per share.
The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was 95 cents.
Net revenue for the quarter increased 90% to $1.01 billion from $530 million in the prior-year quarter.
For the third quarter, the company expects net revenue of $1.00 billion to $1.02 billion, GAAP EPS of 6 cents to 13 cents and adjusted EPS of $1.00 to $1.03.
The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter is 98 cents.
In addition, the company raised its guidance for full year 2018. It now expects net revenue of $3.88 billion to $3.93 billion, up from the previous estimate of $3.81 billion to $3.90 billion. GAAP EPS is now expected to be between a loss of 6 cents and earnings of 12 cents, compared to prior estimate of 53 cents to 75 cents. Adjusted EPS is now expected to be $3.93 to $4.00, versus an earlier estimate of $3.71 to $3.81.
The S&P Global Market Intelligence consensus normalized EPS estimate for 2018 is $3.80.