Global Payments Inc. says that their second quarter, revenue grew 19 percent to USD260.7 million compared to USD219.7 million in the prior year. Diluted earnings per share grew 16 percent to USD0.44 compared to USD0.38 in the prior year quarter.
For the six months ended November 30, 2006, revenue grew 17 percent to USD521.0 million compared to USD444.1 million in the prior year period. Diluted earnings per share grew 29 percent to USD0.99 from USD0.77 in the prior year period.
“We are pleased to report solid financial results for our fiscal 2007 second quarter, which were primarily due to expansion in our merchant services segment,” says Paul R. Garcia, the Chairman, President and CEO of Global Payments. “Our domestic ISO channel continues to drive our merchant services revenue growth, in addition to a full quarter’s results from our new Asia-Pacific joint venture with HSBC. Our merchant services results also benefited from a favorable Canadian currency exchange rate compared to the prior year. Based on recent Canadian exchange rate movements, however, we do not expect to receive a similar benefit for the second half of our fiscal year. Lastly, our consumer money transfer segment reported strong revenue growth in the quarter, although we are anticipating slower growth in this area for the second half of our fiscal year due to a competitive pricing environment.”