U.S. Markets close in 4 hrs 4 mins

Evertec: 2Q Earnings Snapshot

SAN JUAN, Puerto Rico (AP) _ Evertec Inc. (EVTC) on Wednesday reported second-quarter profit of $27.1 million.

The San Juan, Puerto Rico-based company said it had net income of 37 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 51 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The payment processing company posted revenue of $122.5 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $117.6 million.

Evertec expects full-year earnings in the range of $1.92 to $1.98 per share, with revenue in the range of $477 million to $482 million.

Evertec shares have risen 12% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $32.01, a rise of 37% 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