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Article: Global Payments Raises Targets on Foreign Strength.(Technology)(Financial report)
- Article from:
- American Banker
- Article date:
- October 6, 2008
- Author:
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Byline: Daniel Wolfe
Though its U.S. payments processing business is slowing, Global Payments Inc. said its foreign operations are doing well.
"We have seen some softness domestically," Paul R. Garcia, Global Payments' chairman, president, and chief executive, said in a conference call with analysts Thursday to discuss results for its first fiscal quarter, which ended Aug. 31. "The good news is softness, for us ... still means pretty significant growth."
The Atlanta company said its revenue for the quarter rose 30% from a year earlier, to $405.8 million. Net income rose 32%, to $57.5 million.
Global Payments also raised its guidance for this fiscal year. It ...