The electronic payments terminal maker reported earnings of $31.1 million, or 27 cents per share after the markets closed on Monday. On an adjusted basis, when taking out one-time charges and gains, the company earned 44 cents per share, topping analysts' estimates by 3 cents, according to Thomson Reuters.
The San Jose, Calif., company reported revenue of $490.5 million, which also slightly beat Wall Street estimates of $484.4 million. But one of the more important numbers to focus on is the nearly 13.8% year-over-year growth VeriFone has posted for its revenue.
Same with the profits. Last year, VeriFone posted adjusted earnings of 27 cents per share. Monday's adjusted earnings of 44 cents represents a 63% jump in just one year. The stock has responded with year-to-date gains of 23.3%, which beats both the 7.6% gain in the S&P 500 (SPY) and the 3.6% gain in the Dow Jones Industrial Average (DJI) .PAY data by YCharts
VeriFone investors have done well in 2014. And if the company's guidance is any indication, 2015 might be an even better year.
For the period ending in January, its fiscal first quarter, VeriFone expects to earn 40 cents per share on revenue in the range of $480 million to $485 million, compared to consensus estimates of $483.6 million. While the high-end of the range exceeds what analysts are expecting, the number is nonetheless conservative, especially with the busy holiday shopping season approaching.