Global Payments issues lower 2011 earnings outlook than analysts had predictedBy AP
Tuesday, July 27, 2010
Global Payments 2011 earnings guidance falls short
ATLANTA — Payment processor Global Payments Inc. on Tuesday issued lower earnings guidance for the current fiscal year than Wall Street was expecting.
On an adjusted basis, the company said it expects to earn $2.68 to $2.77 per share for fiscal 2011, which ends next June. Global Payments said the results exclude 12 cents per share of startup expenses related to a new service center in the Philippines.
Analysts are currently looking for adjusted earnings of $3.17 per share.
Global Payments also said it expects revenue of $1.74 to $1.77 million. Analysts had forecast $1.75 million in revenue.
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