Atlanta-based payments technology giant Global Payments (NYSE:GPN) is still struggling to lift revenue as effects of the pandemic wear on. But the company has more than compensated for a weak top line in recent quarters, and Monday’s fourth-quarter 2020 earnings report proved consistent with this theme.
Alongside earnings, the company also announced a multi-faceted partnership with Alphabet‘s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google. We’ll review the specifics of the deal after taking a look at key highlights from the fourth-quarter report.
Softer revenue, rising operating income
Merchant solutions, Global Payment’s largest segment, reported a top-line decline of 4.5% against Q4 2019, to $1.2 billion, as the continuing COVID-19 pandemic suppressed card and payments activity among thousands of the company’s small merchant clients. This was the largest factor behind a nearly 3% year-over-year drop in total company revenue to $1.93 billion. In the