Global Payments's Results Hit a Record High in Q2 2022

Global Payments Inc., a leading worldwide provider of payment technology and software solutions, has announced results for the second quarter ended June 30, 2022, reaching the best performance in the company's history.

GAAP revenues were $2.28 billion, compared to $2.14 billion in the second quarter of 2021; diluted (loss) earnings per share were $(2.42) compared to $0.89 in the prior year; and operating margin was (23.0)% compared to 17.0% in the prior year.

Adjusted net revenues increased 6.1% to $2.06 billion, compared to $1.94 billion in the second quarter of 2021; excluding the Netspend consumer assets, now classified as held for sale, adjusted net revenue increased 9.0%.

Adjusted earnings per share increased 15.7% to $2.36, compared to $2.04 in the second quarter of 2021.

Adjusted operating margin expanded 200 basis points to 43.8%; excluding the Netspend consumer assets, adjusted operating margin was 45.3%.

"Our second quarter performance was the best in our history and exceeded our expectations despite incremental challenges throughout the period," said Jeff Sloan, Chief Executive Officer. "Our Merchant and Issuer businesses both exceeded our targets, with our Issuer business delivering significant sequential improvement as expected. And we achieved this performance while further aligning our business with our strategy, expanding our unique partnerships, extending our lead and deepening our competitive moat."