Global Payments Inc. (NYSE: GPN) declined 2.54% to $46.79 in the early hour after the company announced results for its fiscal second quarter ended November 30, 2011.
The company reported a second quarter profit of $61.2 million, or $0.78 a share, up from $53.5 million or $0.67 a share, a year earlier. Revenue increased 20% to $530.5 million during the quarter. Analysts expected the company to report a per-share profit of $0.88 on $525 million in revenue. Gross margin eased to 65% from 65.2%.
The company delivered solid second quarter results driven by continued steady performances in all of its businesses and the December 2010 addition of Spain. The company has agreed to acquire HSBC’s merchant business in Malta consisting of nearly 4,000 merchants, which is pending regulatory approval, and have also signed an agreement to acquire CyberSource’s U.S. merchant acquiring portfolio from Visa.
The 52 week trading range for the company is $38.26 – $53.67. The company has gained 1.92% in the last one year. Global Payments Inc. is a provider of electronic payments transaction processing services for consumers, merchants, independent sales organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United States, Canada, the United Kingdom, the Asia-Pacific region, the Czech Republic and the Russian Federation.
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