IMGCAP(1)]
Global Payments Inc., an Atlanta-based transaction processor, is reporting net income of $48.9 million for the second quarter ended Nov. 30, up 27.7% from $38.3 million during the same period in 2007. Second-quarter revenue was $401.1 million, up 29.9% from $308.8 million. Global Payments attributed the increases to its acquisition last year of 51% of HSBC Merchant Services, a joint venture it operates with HSBC Group in the United Kingdom, (CardLine 6/30/08), and to a 16% growth in U.S. credit and debit card transaction volume versus the same period a year ago. Global Payments typically does not report transaction volume, but said in the calendar year 2007 it processed 3.8 billion transactions worldwide. Global Payments says revenue for all of its geographic regions increased during the quarter. North America revenue, including Canada and the United States, totaled $270.8 million, an 11.9% increase from $241.9 million for the second quarter of the previous fiscal year. International merchant-services revenue was $95.1 million, up 191.7% from $32.6 million. Global Payments' funds-transfer business also had revenue growth, increasing by 2.6%, to $35.2 million from $34.3 million.
