How did GPN's Q1 2024 EPS outperform forecasts?

Global Payments' (GPN) Q1 2024 EPS outperformed forecasts due to several key factors: 1. **Strong Revenue Growth**: GPN reported a total revenue of $2.42 billion for Q1 2024. This represents a significant increase from the same period the previous year, indicating a robust business performance that surpassed market expectations. 2. **Net Income Increase**: The company's net income for the quarter was $323.06 million. This figure demonstrates a positive trend, suggesting that GPN was able to manage its operations efficiently and generate higher profits than anticipated. 3. **Expense Management**: Global Payments' ability to control expenses played a crucial role in boosting profitability. Despite sequential declines in earnings and revenue, the company's expenses were well-managed, allowing it to maintain a healthy net income margin. 4. **Divestiture Benefits**: The divestiture of certain business segments, such as Netspend and gaming, has been a strategic move for GPN. Analysts expect that as the company laps the anniversary of these divestitures, the impact of cost synergies will become more pronounced, further enhancing financial performance. In summary, GPN's Q1 2024 EPS outperformance can be attributed to strong revenue growth, effective expense management, and the benefits of strategic divestitures. These factors combined to enable the company to exceed market expectations and deliver robust financial results.