Payment processor Worldpay has reported attributable net income of $36.4m for its Q1 2019, versus a loss of $97.6m in the previous year.
However, adjusted net income attributable to Worldpay surged 24% to $293m from $236.7m.
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On a GAAP basis, net income per diluted share attributable to Worldpay was $0.12, as against a loss of $0.36 a year ago.
Adjusted net income per share increased to $0.94 from $0.81.
For the year ended 31 December 2018, Worldpay reported an attributable net income of $12.8m.
Worldpay Q1 2019 results: highlights
The firm’s revenue for the three-month period ended 31 March 2019 was $970m, up 14% from $850.7m in the same quarter of 2018.
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By GlobalDataRevenue from Technology Solutions soared 27% to $427.3m from $336.4m.
Revenue from Merchant Solutions increased 6% to $459.4m from $432.2m.
In case of Issuer Solutions, revenue rose 1% year-on-year to $83.3m.
Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) were $446.1m in the first quarter.
Worldpay chairman and CEO Charles Drucker said: “We delivered exceptional results, reflecting consistent business fundamentals and strong new sales performance.
“We signed 16 additional cross-sell wins, keeping us on track to achieve $100 million in revenue synergies, and we won several strategic new clients.”
Earlier this year, fintech firm FIS agreed to acquire Worldpay in a deal worth around $43bn.
The deal is slated to complete in the third quarter of this year, subject to stockholder and regulatory nod.
