NEW YORK (TheStreet) -- Shares of Global Payments (GPN) - Get Report were rising in early morning trading on Wednesday after the company posted higher-than-expected earnings and revenue for the fiscal 2017 first quarter.
Before the market open, the Atlanta-based payment technology services provider reported adjusted earnings of 86 cents per share which topped analysts' estimates of 83 cents per share.
Revenue of $817.3 million beat Wall Street's anticipated $815.64 million.
For the full fiscal year, Global Payments expects earnings per share to increase 16% to 19% year-over-year to $3.45 to $3.55. Analysts are estimating earnings of $3.49 per share for the year.
Global Payments is looking for revenue in the range of $3.2 billion to $3.3 billion for fiscal 2017. Wall Street expects revenue of $3.29 billion.
"Our fiscal 2017 is off to a great start, with organic growth accelerating sequentially across our key markets in the first quarter," CEO Jeff Sloan said in a statement.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and expanding profit margins. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: GPN