Why VeriFone Systems (PAY) Stock Is Up After Hours

NEW YORK (TheStreet) -- VeriFone Systems (PAY) stock is gaining in post-market trading after beating second-quarter earnings estimates and recording a 9% increase in revenue from a year earlier. 

After the bell, shares added 3.5% to $35. 

Over the three months to April, the company earned 37 cents a share, a nickel higher than what analysts surveyed by Thomson Reuters forecast. Revenue of $466.8 million exceeded expectations of $443.4 million. 

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TheStreet Ratings team rates VERIFONE SYSTEMS INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

"We rate VERIFONE SYSTEMS INC (PAY) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow."

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