Global Payments (GPN) Q2 Earnings and Revenues Surpass Estimates

Core Viewpoint - Global Payments reported quarterly earnings of $2.93 per share, exceeding the Zacks Consensus Estimate of $2.91 per share, and showing an increase from $2.62 per share a year ago, indicating a positive earnings surprise of 0.69% [1][2] Financial Performance - The company achieved revenues of $2.32 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.40%, and up from $2.2 billion in the same quarter last year [2] - Over the last four quarters, Global Payments has consistently exceeded consensus EPS and revenue estimates [2] Stock Performance - Global Payments shares have declined approximately 26.8% since the beginning of the year, contrasting with the S&P 500's gain of 9.9% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating expectations of underperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $3.14 on revenues of $2.39 billion, while the estimate for the current fiscal year is $11.63 on revenues of $9.23 billion [7] - The trend of estimate revisions for Global Payments has been unfavorable leading up to the earnings release [6] Industry Context - The Financial Transaction Services industry, to which Global Payments belongs, is currently ranked in the top 32% of over 250 Zacks industries, suggesting a favorable industry outlook [8]