Total System: 2Q Earnings Snapshot
COLUMBUS, Ga. (AP) _ Total System Services Inc. (TSS) on Wednesday reported second-quarter profit of $162.8 million.
The Columbus, Georgia-based company said it had profit of 91 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.27 per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.
The electronic payment services provider posted revenue of $1.04 billion in the period. Its adjusted revenue was $979.9 million, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $1.01 billion.
Total System expects full-year earnings in the range of $4.75 to $4.90 per share, with revenue in the range of $3.99 billion to $4.09 billion.
Total System shares have risen 67% since the beginning of the year, while the Standard & Poor’s 500 index has risen 19%. In the final minutes of trading on Wednesday, shares hit $135.70, a climb of 48% in the last 12 months.