The company reported earnings per share of 22 cents, up from 19 cents in the same period one year earlier. This edged the consensus estimate of 21 cents by a penny. Revenue increased 2.6% year over year to $150.6 million for the quarter, which was just shy of the consensus estimate of $150.79 million.
Global Cash Access also updated its EPS guidance for the full year 2014 to a range of 87 cents to 91 cents, which surpassed the estimate of 82 cents from analysts polled by Thomson Reuters.
The stock was up 20.64% to $7.89 at 2:32 p.m. on Wednesday.
Separately, TheStreet Ratings team rates GLOBAL CASH ACCESS HOLDINGS as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate GLOBAL CASH ACCESS HOLDINGS (GCA) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, increase in net income and growth in earnings per share. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."