Global Payments Inc. stock research
FY2025 Q1
Global Payments (GPN) Gross Margin — Quarter Ended Mar 31, 2025
In the current quarter, gross profit declined in line with revenue, while cost of revenue decreased more sharply, resulting in a gross margin that was stable compared with the preceding quarter and improved relative to the same quarter one year earlier.
Gross margin takeaway
Quarter ended Mar 31, 2025 · FY2025 Q1
In the current quarter, gross profit declined in line with revenue, while cost of revenue decreased more sharply, resulting in a gross margin that was stable compared with the preceding quarter and improved relative to the same quarter one year earlier.
- The strongest observable margin driver is the year-over-year improvement in gross margin, which rose as cost of revenue fell proportionally more than revenue.
- Revenue and gross profit were lower than both the preceding quarter and the same quarter one year earlier. Gross margin was unchanged from the preceding quarter and higher than the year-ago quarter.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
72.8%
Gross profit
$1.3B
Revenue
$1.8B
Cost of revenue
$495.2M
Quarter-over-quarter change
-0.0 pts
Year-over-year change
+10.9 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2024 | $2.0B | $1.5B | $504.5M | 74.4% |
| Sep 30, 2024 | $2.0B | $1.5B | $504.6M | 74.7% |
| Dec 31, 2024 | $1.9B | $1.4B | $525.4M | 72.8% |
| Mar 31, 2025 | $1.8B | $1.3B | $495.2M | 72.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2024
-0.0 pts
Year-over-year change
Mar 31, 2024
+10.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the year-over-year improvement in gross margin, which rose as cost of revenue fell proportionally more than revenue.
Revenue and gross profit were lower than both the preceding quarter and the same quarter one year earlier. Gross margin was unchanged from the preceding quarter and higher than the year-ago quarter.
Monitor the relationship between revenue and cost of revenue, as the company’s filing indicates that many costs do not vary directly with transaction volume, which can affect gross margin stability.