GPN · Earnings call · 2026Q2T · Full report

Revenue Performance and Mix

GLOBAL PAYMENTS INC · 2026-08-05 · Importance 49 · Surprise 32 · No source text

Second-quarter adjusted net revenue was $3.16 billion, up 4% on a normalized basis excluding dispositions, despite an approximately 100-basis-point headwind from reduced travel volumes related to the Middle East conflict. SMB revenue was $1.51 billion, up 4% with 4% volume growth; Enterprise revenue was $838 million, up 7% despite an approximately 400-basis-point conflict headwind; and Platforms revenue was $628 million, up 7% with 10% volume growth. Enterprise card-not-present revenue grew at a low-double-digit rate, while Platforms’ embedded-payments volume grew approximately 15% and its BaaS revenue increased 25%. Other revenue, consisting of noncore portfolios and relationships, represented approximately 8% of 2025 revenue and is expected to decline to approximately 6% in 2026 as those businesses wind down.

Key facts

• Adjusted net revenue in Q2 2026: $3.16 billion, representing normalized growth of 4% excluding dispositions
• SMB segment Q2 adjusted net revenue: $1.51 billion, representing normalized growth of 4% excluding dispositions and underpinned by 4% volume growth
• Platforms segment Q2 adjusted net revenue: $628 million, representing normalized growth of 7%; platform volume grew 10%
• Enterprise segment Q2 adjusted net revenue: $838 million, representing normalized growth of 7% despite an approximately 400 basis point headwind from the Middle East conflict; volumes grew 4%
• Other revenue was about 8% of total revenue in 2025 and expected to be around 6% in 2026
• Adjusted earnings per share in Q2 2026: $3.46, representing an increase of 12%
• Platforms BaaS revenue grew 25% in Q2, driven by fraud, payouts, prime routing and merchant working capital
• Q2 difference year-over-year due to dispositions roughly $60 to $65 million

Impact estimates