WASHINGTON (dpa-AFX) - Global Payments Inc. (GPN) reported net income for the second quarter of $70.2 million or $0.89per share, compared to $61.2 million or $0.78 per share for the year-ago quarter.
Cash earnings for the second quarter were $73.6 million or $0.93 per share, compared to $67.6 million or $0.86 per share in the prior year quarter.
Revenue for the second quarter grew 11% to $588.54 million from $530.51 million a year earlier.
Analysts polled by Thomson Reuters expected the company to earn $0.87 per share on revenue of $574.82 million for the second quarter. Analysts' estimates typically exclude special items.
The company also said its Board of Directors has approved an additional $150 million share repurchase authorization of Global Payments' stock which increased the current $150 million share repurchase authorization to a total of $300 million. As of January 8, $287 million remains available.
For the full-year of fiscal 2013, the company continues to expect annual revenue of $2,360 million to $2,400 million.
The company increased its fiscal 2013 cash earnings per share outlook to a range of $3.61 to $3.68 from its prior outlook of $3.59 to $3.66 per share.
Fiscal 2013 earnings per share, excluding the impact of all intrusion remediation costs, are expected to be in a range of $3.01 to $3.08, compared to prior expectations of $2.99 to $3.06 per share.
Analysts currently expect the company to earn $3.64 per share on revenue of $2.38 billion for the fiscal year 2013.
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