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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Total System Services | NYSE:TSS | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 133.27 | 0 | 01:00:00 |
Total System Services Inc.'s (TSS) second-quarter profit rose 8.1% as the company posted a double-digit revenue increase for international services, offsetting a decline in revenue from North American and merchant services.
The company, which makes technologies to support consumer finance credit and debit cards for financial institutions, has benefited from slightly improved consumer spending trends in recent quarters.
In January, Total System bought the remaining minority interest in First National Merchant Solutions LLC, a joint-venture direct merchant acquirer and transaction processor with First National Bank of Omaha. Total System has said the business, rebranded as TSYS Merchant Solutions, will help its diversification strategy.
Total System posted a profit of $53.7 million, or 28 cents a share, up from $49.7 million, or 25 cents a share, a year earlier. Revenue grew 3.9% to $447.6 million.
Analysts polled by Thomson Reuters had most recently predicted a profit of 27 cents a share on revenue of $438 million.
Revenue for North American services fell 1.2%, while international services revenue rose 25%. Merchant services sales fell 0.7%.
Shares were up 0.5% to $18.25 in after-hours trading. The stock has gained 17% over the past 12 months through the close.
-By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; nathalie.tadena@dowjones.com
1 Year Total System Services Chart |
1 Month Total System Services Chart |
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