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![Global Payments Inc [GPN] reports quarterly net loss of $323.1 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FGPN.png&w=1200&q=75)
GLOBAL PAYMENTS INC [GPN] has reported a net loss of $323.1 million for quarter ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the quarter was $2.4 billion
Based in ATLANTA, Georgia, GLOBAL PAYMENTS INC operates in the SERVICES sector.
In the unaudited consolidated statements of income for the quarter ended March 31, 2024, Global Payments reported revenues of $2.42 billion, showing an increase compared to the previous year's revenue of $2.29 billion.
Cost of service for the current quarter was $922.4 million, slightly lower than the previous year's figure of $947.75 million. Selling, general, and administrative expenses amounted to $1.05 billion, compared to $1.04 billion in the same period last year.
The company recorded an operating income of $452.25 million for the quarter, a significant improvement from the $56.74 million reported in the previous year.
Interest and other income totaled $35.93 million, up from $11.15 million in the same period last year. However, interest and other expenses increased to $162.15 million from $122.95 million.
The total nonoperating income (expense) was a loss of $126.22 million, compared to a loss of $111.79 million in the prior year.
Global Payments reported a net income of $323.06 million for the quarter, a substantial increase from a net loss of $4.42 million in the same period last year.
Net income attributable to Global Payments was $313.31 million, compared to a loss of $11.04 million in the previous year.
The earnings per share attributable to Global Payments showed a positive trend, with basic and diluted earnings per share amounting to $1.22 each, compared to a loss of $0.04 per share in the same period last year.
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