Global Payments Posts Q4 Profit

Aug. 5, 2010

Atlanta-based online credit card processor Global Payments Inc. posted quarterly earnings of $.56 per share on revenue of $425.1 million. On a conference call with analysts, the company said its joint venture partner HSBC recently received approval from Chinese regulators, which enables Global Payments to start processing transactions for China Union Pay in Beijing, as well as offer merchant acquiring services by the end of summer. For its fiscal year 2011, Global Payments said it expected earnings in a range of $2.68 to $2.77 a share, on revenue of between $1.74 billion and $1.78 billion.