Global Payments Inc. said its revenue rose 10% in the November-ended quarter as the electronics-payments company continues to look at possible acquisitions and expand into the Asian market.
Results beat expectations, and the Atlanta-based company raised its outlook for the year ending in May, predicting earnings of $4.75 to $4.83 a share and revenue of $2.75 billion to $2.80 billion. It had earlier forecast $4.65 to $4.75 a share in earnings and $2.74 billion to $2.79 billion in revenue.
The company previously had signaled that it was looking at potential acquisitions. In 2014, the company agreed to pay $420 million for Payment Processing Inc., which serves small and midsize U.S. merchants.
In the most recent quarter, the company completed its acquisition of technology company Ezidebit, which has distribution networks in Australia and New Zealand, and established a joint venture with Bank of the Philippine Islands.
For the quarter that ended Nov. 30, Global Payments reported a profit of $74.8 million, or $1.10 a share, up slightly from $73.9 million, or $1.02 a share, a year earlier. Cash earnings grew 19% to $1.27, from $1.07 a year earlier.
Revenue increased to $697.3 million.
Analysts surveyed by Thomson Reuters expected a profit of $1.20 a share on $695 million in revenue.
Shares of Global Processing, inactive premarket, have risen about 23% in the past 12 months through Wednesday's close.
