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Global Payments Inc. (GPN) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports consolidated revenues of $10.1 billion, representing a 4.7% increase from the previous year. This growth was primarily driven by higher transaction volumes and the acquisition of EVO Payments, Inc. in March 2023.
Merchant Solutions segment revenues increased by 7.5% to $7.7 billion, while Issuer Solutions segment revenues rose by 3.5% to $2.5 billion. The Consumer Solutions segment was divested in 2023.
Operating income for the year was $2.3 billion, up from $1.7 billion in 2023, with an operating margin of 23.1%, compared to 17.8% in the previous year.
The company reported a net income of $1.6 billion, a significant increase from $986 million in 2023, attributed to higher revenues and gains from business dispositions.
Global Payments completed the sale of AdvancedMD, Inc. in December 2024, recognizing a gain of $273 million. The company also disposed of its gaming business in April 2023.
The company issued $2 billion in 1.5% convertible senior notes due 2031 and repurchased $1.6 billion of its common stock during the year.
As of December 31, 2024, Global Payments had cash and cash equivalents totaling $2.5 billion, with $1.1 billion available for general purposes.
The company continues to focus on its business transformation program, which aims to streamline operations and is expected to be largely completed by 2027.
Global Payments anticipates capital expenditures of approximately $800 million for the year ending December 31, 2025, as it invests in new technologies and infrastructure.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Global Payments Inc. annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.