5 Stocks Making Notable Moves on Earnings Reports

4. Global Payments Inc. (NYSE:GPN)

Number of Hedge Fund Holders: 66

Shares of Global Payments Inc. (NYSE:GPN) made a new 52-week low of $128.61 on Tuesday, 2 November 2021, despite beating expectations for the third-quarter results. The financial technology services provider reported adjusted earnings of $2.18 per share, beating the consensus forecast of $2.15 per share.

Global Payments Inc. (NYSE:GPN) had reported adjusted earnings of $1.71 per share in the same period last year. Revenue for the quarter jumped 14.6 percent on a year-over-year basis to $2 billion, just ahead of the consensus forecast of $1.99 billion.

In addition, the company revised its revenue outlook for the full year. Global Payments Inc. (NYSE:GPN) expects revenue in the range of $7.71 – $7.73 billion, just below the consensus forecast of $7.74 billion.

Speaking on the results, CEO Jeff Sloan said:

“We are pleased to have delivered the strongest performance in our history in the third quarter despite facing incremental challenges from COVID-19 during the period. Our businesses continued to demonstrate their resilience, and our results highlight our consistent execution across cycles. As we have throughout the pandemic, we benefit from accelerated digitization across our markets.”