Worldpay Reports Profit in First Earnings since IPO
March 10, 2016
E-commerce processor and acquirer Worldpay reported financial results for the first time since its $3 billion IPO announced in October of last year. Revenue increased 9 percent to £3.9 billion ($5.5 billion) and the company swung from a pretax loss of more than £47 million ($67 million) to a profit of £19 million ($27 million). London-based Worldpay also reported “significant progress” across a variety of metrics including transactions (14 percent increase) and transaction value (9 percent increase).
“We made significant operational and financial progress in 2015,” said Philip Jansen, CEO of Worldpay. “It was a year of considerable achievement, in the implementation of our strategy, in strengthening and deepening our market presence, capabilities and technology, and helping our customers prosper. The Group has made a good start to 2016, in line with expectations, and these results provide a strong platform for continued growth over the medium term.”