Global Payments Reports Fourth Quarter and Full Year 2019 Results and
Establishes 2020 Growth Outlook

ATLANTA, February 12, 2020
-- Global Payments Inc. (NYSE: GPN) today announced results for the fourth quarter and year ended December 31, 2019.
"We delivered one of the finest strategic, operational and financial years in our history in 2019. Our transformational merger with TSYS redefined our industry landscape, creating the worldwide leader in payments technology," said Jeff Sloan, Chief Executive Officer. "Our differentiated focus on software, partnered and owned, omnichannel solutions and faster growth markets generated significant competitive wins and enabled our expansion into new geographies, further validating the distinctiveness of our business model."
Sloan added, "Our momentum continued in the fourth quarter of 2019, with growth accelerating as we exceeded our expectations for the quarter and year. Looking forward, we are tremendously excited about the opportunities that will enable us to maintain industry leading growth as a combined company."

Full Year 2019 Summary
GAAP revenues were $4.91 billion, compared to $3.37 billion in 2018; diluted earnings per share were $2.16 compared to $2.84 in the prior year; and operating margin was 16.1%.
Adjusted net revenue1 grew 48% to $4.59 billion, compared to $3.10 billion in 2018. As previously disclosed, this new non-GAAP revenue convention does not include the addition of network fees.
Adjusted earnings per share grew 20% to $6.22, compared to $5.19 in 2018.
Adjusted operating margin was 39.7%, substantially exceeding our expectations.
1 Excludes $1.05 billion and $0.87 billion in 2019 and 2018, respectively, previously included in our prior non-GAAP guidance convention that included network fees.


The following information was filed by Global Payments Inc (GPN) on Wednesday, February 12, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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