Source: Worldpay
Worldpay, Inc. (NYSE: WP, LSE: WPY) ("Worldpay" or the "Company") today announced financial results for the third quarter ended September 30, 2018.
Worldpay, Inc. was formed on January 16, 2018 through Vantiv, Inc.'s previously announced acquisition of Worldpay Group plc.
Net revenue for Worldpay, Inc. increased 84% to $1,017.9 million as compared to $554.2 million in Vantiv Inc.'s prior year period. Had the Vantiv Inc./Worldpay Group plc transaction closed on January 1, 2017, net revenue would have increased by 9% on a pro forma basis as compared to the prior year period.
On a GAAP basis, net income per diluted share attributable to Worldpay, Inc. decreased 98% to $0.01 as compared to $0.57 in the prior year period. The GAAP decrease is primarily due to transition, acquisition and integration costs and intangible amortization incurred in connection with the Vantiv, Inc./Worldpay Group plc transaction. Adjusted net income per share increased 17% to $1.05 as compared to $0.90 in the prior year period.
"I am excited about the momentum that we are building in the marketplace as the newly combined Worldpay," said Charles Drucker, chairman and co-chief executive officer of Worldpay. "We are winning because we offer our clients a powerful value proposition that includes a unique combination of global reach, innovative technologies, and tailored solutions that differentiates us from our competitors."