Global Cash Access Holdings Earnings: Here’s Why Shares are Down Now
Global Cash Access Holdings, Inc. (NYSE:GCA) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.64%.
Global Cash Access Holdings, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 8.7% to $0.21 in the quarter versus EPS of $0.23 in the year-earlier quarter.
Revenue: Rose 1.11% to $149.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Global Cash Access Holdings, Inc. reported adjusted EPS income of $0.21 per share. By that measure, the company beat the mean analyst estimate of $0.2. It beat the average revenue estimate of $147.9 million.
Quoting Management: “The second quarter was exciting on many fronts as we continued to execute on our plans to become the leading kiosk provider, to deliver excellent customer service and to become the most complete provider of cash management and payment solutions available to land-based and online gaming operators. Results were in line with expectations and we are pleased to remain on target to meet our full year 2013 guidance expectations. We are especially proud of our recently announced agreement with Scientific Games to provide cash access and wallet services for their iLottery customers,” said David Lopez, President and CEO of GCA.
Key Stats (on next page)…