Q2 snap: all key metrics ahead
Revenue came in 3% ahead of consensus, with each segment delivering higher revenue than we had forecast. Adjusted EBITDA was 5% ahead of our forecast and adjusted EPS beat our / Street expectations by 9c. Organic growth accelerated in Q2 and management has commented that it expects this improved outlook to continue for the rest of the year, resulting in raised CY18 guidance.Worldpay is a holding company. Through its subsidiaries, the company provides electronic payment processing services to merchants and financial institutions. The company operates two segments: Merchant Services, which provides merchant acquiring and payment processing services to national merchants, regional and small-to-mid sized businesses; and Financial Institution Services, which provides card issuer processing, payment network processing, fraud protection, card production, prepaid program management, automated teller machine driving and network gateway and switching services that utilize the company's proprietary Jeanie debit payment network to a set of financial institutions.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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