Global Payments Raises 2008 Forecasts

The Atlanta-based company now expects a profit of $1.95 to $1.97 per share for the fiscal year ending in May, with revenue of $1.25 billion to $1.26 billion. In January, the company raised its forecast to between $1.89 and $1.96 per share in profit, and $1.23 billion to $1.26 billion in revenue.

Global Payments said its profit growth will be between 10 percent and 11 percent, while revenue will increase 18 percent to 19 percent.

On average, analysts surveyed by Thomson Financial expect Global Payments to earn $1.94 per share on $1.24 billion in revenue.

Also on Thursday, the company reported stronger fiscal third-quarter results than Wall Street expected. Global Payments' profit and revenue exceeded analyst estimates.

Global Payments shares rose 58 cents to close at $39.63.