Global Payments Inc. (NYSE:GPN) shares fell by $3.56 or 7.26% to $45.45 in the morning session after the company posted its third quarter earnings which fell short of Wall Street expectations.
On Tuesday the company posted net income of $68 million, or 87 cents per share, up by 4% in comparison to last year but fell short of FactSet analyst expectation of 89 cents per share.
Revenue grew by 8% to $$578.7 million just shy of FactSet analyst estimates of $580.4 million.
The U.S operations revenue for the company was up by 11% to $$336.4 million. In Canada revenue dipped by 6%, while revenue from Global Payments’ international business including Europe and Asia-Pacific rose by 10%.
For the full year the company maintained its earnings guidance of $3.64 to $3.71 per share on revenue of $2.36 billion to $2.4 billion.
Analyst anticipates earnings of $3.70 per share on revenue of $2.4 billion.
Zynga Inc. (NASDAQ:ZNGA) is all set to enter the real money gambling on Wednesday in partnership
With Bwin.party Digital Entertainment by offering poker and casino-style games in Britain.
How Should Investors Trade ZNGA Now? Find Out Here
Zynga will gauge interest among its core users for online betting on everything from poker to blackjack and roulette through “ZyngaPlusPoker” and “ZyngaPlusCasino” which will be available both on web and on desktop.
During its fourth quarter earnings call the executives even announced the development of games on Facebook-based versions helping the company to into the social network’s vast pool of potential players.
Chief Revenue Officer Barry Cottle quoted that the company aims to offer the players the next generation of real money games on multiple platforms in regulated markets worldwide.
The terms of agreement with bwin.Party was not yet disclosed.
Shares rose by 44 cents or 14.33% to $3.51 in the afternoon session.
