Global Payments shares climb after 3Q results.

NEW YORK (AP) -- Shares of Global Payments Inc. rose nearly 8 percent Thursday, a day after the payment processor posted a fiscal third-quarter profit and raised its full-year forecast.

The company, which processes credit, debit and gift card transactions, said the results were driven by steady growth in its services for independent businesses, as well as by strength in its international business and a better-than-expected tax range.

Shares of the Atlanta-based company were up 62 cents to $46.17 in afternoon trading. Earlier in the day, the stock gained 7.5 percent to $48.96. In the past 52 weeks, the stock has traded between $30.77 and $54.52.

Global Payments raised its full-year profit and revenue outlook. It now expects profit in the
range of $2.49 to $2.54 per share, up from its earlier projection of $2.35 to $2.46 per share.


Analysts predict profit of $2.47 per share for the fiscal year, according to Thomson Reuters.




The company expects revenue between $1.62 billion and $1.63 billion for the year, which compares with analyst expectations of slightly under $1.62 billion.

Morgan Keegan analyst Robert J. Dodd said the company's guidance points to "solid" revenue growth and expanding margins. He kept an "Outperform" rating on the stock, but noted that while the "upside in the quarter was significantly positive the overall indications are that most major markets have stabilized rather than accelerated."

RELATED TAGS : BUSINESS , FOREX , REALESTATE , MARKETING , AUTOMOBILES , CURRENCY’S