GPN Stock Moving Lower | #shorts

Global Payments (GPN) has raised its guidance for the full-year top and bottom lines after a stronger-than-expected Q1 2023, largely due to growth in its Merchant business. CEO Jeff Sloan highlighted the resilience of the Merchant business amidst macroeconomic distractions and the improvement of the core Issuer business. Merchant Solutions grew by 8.9% y/y and Issuer Solutions grew 4.7%, but Consumer Solutions dropped by 23.6% y/y. CEO Jeffrey S. Sloan will be stepping down on June 1st which is why the stock is down over 7% in the session.

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