VeriFone has recently reported its first quarter results for the three months ended January 31, 2018. The results generally met expectations after being driven by services and strategic priorities by the management.
Earnings per share recorded a data of 23 cents during the period, whereas revenues of $436.8 million saw declines of at least 3.8 percent which was coarsely in line with estimated data.
Chief Executive Officer Paul Galant told in a conference call that the company is monitoring a route to potential growth as marked by the current upshots.
On top of the fiscal year targets, systems revenue weakened as anticipated if to compare from the data last year, Galant added.
Furthermore, the Non-GAAP net revenue and EPS exceeded the market estimates. According to the recent reports, Non-GAAP net revenues had a record of $425 million. Non-GAAP net income on the other hand had $0.23 per share of diluted share.
GAAP net revenue for the period had $437 million as its net income per diluted share had $0.06.
Verifone is an American multinational corporation headquartered in San Jose, California that provides technology for electronic payment transactions and value-added services at the point-of-sale.
“In Q1 we made meaningful progress executing our top three strategic priorities that will return Verifone to growth this year and accelerate our transformation from a terminal sales company to a payments and commerce services provider,” Galant added.
“Our primary objective is to scale Verifone’s next-generation devices, connect more of our 30+ million device footprint to Verifone’s cloud-based services, and leverage our leadership position at the point- of-sale with value-added services that help merchants to start, run, and grow their businesses.”
Carbon Mobile 5
In other news, Verifone has recently launched a first in a line of commerce solutions that features a wide range of freedom of movement, payment system, and commerce all fused in one portable device: Carbon Mobile 5.
“We’re seeing our global merchant partners increasingly dedicating resources to the customer experience. Through one-to-one customer interactions and targeted programs, retail leaders are demanding technology to personalize the shopping experience,” SVP of global product management Julie Johnson, told reports. “The priority is to get to know the customer, and Carbon Mobile 5 provides the platform to engage customers and ‘do it all’ from a single, mobile device.”
The trades of VeriFone seemed to have been bullish since its earnings release. While it is not expected to decline soon, a buy would be advised as its Coppock curve performed high in the positive region of 9.23. The current candle was unfortunately dominated by bears however but such maybe a momentary decline as again, no signs of decline was seen.
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