Shares of Global Payments Inc. GPN, -5.85% were fell 4.2% in premarket trading Monday, after the payment technology company reported third-quarter revenue that rose above expectations while profit matched, and affirmed its full-year outlook. Net income was $290.5 million, or $1.05 a share, after $296.7 million, or $1.01 a share, in the year-ago period. Net income fell while earnings per share rose because shares outstanding dropped to 275.4 million from 292.5 million. Excluding nonrecurring items, adjusted EPS rose to $2.48 from $2.18, matching the FactSet consensus of $2.48. Revenue grew 3.8% to $2.29 billion, above the FactSet consensus of $2.04 billion. Merchant solutions revenue rose 10.1% to $1.60 billion, above the FactSet consensus of $1.48 billion, while issuer solutions revenue rose 15.7% to $566.0 million and consumer solutions revenue increased 3.3% to $147.3 million. For 2022, the company affirmed its outlook for constant currency revenue growth of 10% to 11% adjusted EPS of $9.53 to $9.75. The stock has gained 2.4% over the past three months through Friday, while the S&P 500 SPX, -0.55% has lost 5.6%.
