Global Payments Shares Rise After Q3 Earnings Beat Expectations; Company Raises Annual Profit Forecast Amid Strong Consumer Spending

Q3 results boosted by 9% adjusted net revenue rise and 50 basis point expansion in operating margin; EVO Payments integration on track to deliver increased annual run-rate synergies.

• Global Payments Inc's adjusted net revenue saw a year-on-year increase of 9% to $2.232 billion, slightly surpassing the consensus of $2.226 billion in Q3 FY23.
• Substantial revenue growth was noted in the company's Merchant Solutions and Issuer Solutions segments, which reported a rise of 19.2% and 6.3% respectively.
• The fintech firm has reported a 50 basis point expansion in its adjusted operating margin year-on-year, hitting 45.7%.
• The company has lifted its annual profit forecast range to $10.39 - $10.45 per share, up from the previous $10.35 - $10.44, beating the consensus of $10.38.
• Ongoing integration of EVO Payments is expected to deliver increased annual run-rate synergies of around $135 million, up from a previous projection of at least $125 million.

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