NEW YORK (TheStreet) -- Shares of VeriFone Systems (PAY) are up 3.40% to $34.97 in after-hours trading on Thursday.
The maker of card payment systems posted a narrower second quarter loss of 22 cents per share, or $23.9 million, compared to a loss of 54 cents per share, or $58.4 million, a year ago.
Analysts polled by Thomson Reuters expected the company to earn 33 cents per share for the quarter.
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VeriFone also raised its fiscal 2014 outlook, forecasting adjusted earnings of $1.42 per share to $1.44 per share with net revenue reaching as high as $1.84 billion.
The previous forecast was for adjusted earnings of $1.40 per share and revenue of up to $1.81 billion.
Separately, 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."