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Evertec: 2Q Earnings Snapshot

SAN JUAN, Puerto Rico (AP) _ Evertec Inc. (EVTC) on Tuesday reported second-quarter profit of $20.1 million.

On a per-share basis, the San Juan, Puerto Rico-based company said it had profit of 27 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 46 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.

The payment processing company posted revenue of $113.3 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $111.6 million.

Evertec expects full-year earnings in the range of $1.68 to $1.77 per share, with revenue in the range of $435 million to $445 million.

Evertec shares have increased 71 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $23.30, an increase of 31 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EVTC at https://www.zacks.com/ap/EVTC