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Evertec: 3Q Earnings Snapshot

SAN JUAN, Puerto Rico (AP) _ Evertec Inc. (EVTC) on Wednesday reported third-quarter net income of $24.8 million.

The San Juan, Puerto Rico-based company said it had profit of 34 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 47 cents per share.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 47 cents per share.

The payment processing company posted revenue of $118.8 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $116.5 million.

Evertec expects full-year earnings in the range of $1.95 to $1.98 per share, with revenue in the range of $479 million to $482 million.

Evertec shares have climbed 12% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $32.26, an increase of 43% in the last 12 months.

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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