Global Payments Inc. stock research
FY2025 Q2
Global Payments (GPN) Gross Margin — Quarter Ended Jun 30, 2025
Revenue and gross profit both rose sequentially while cost of revenue remained nearly flat, leading gross margin to strengthen. Compared with the same quarter a year ago, revenue was stable, cost of revenue was slightly lower, and gross margin edged higher.
Gross margin takeaway
Quarter ended Jun 30, 2025 · FY2025 Q2
Revenue and gross profit both rose sequentially while cost of revenue remained nearly flat, leading gross margin to strengthen. Compared with the same quarter a year ago, revenue was stable, cost of revenue was slightly lower, and gross margin edged higher.
- The most observable driver was revenue growth outpacing cost of revenue, as cost of revenue showed little change from the prior quarter and was slightly below the year-ago level.
- Sequentially, gross margin improved, while on a year-over-year basis it remained broadly stable with a marginal improvement.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
74.5%
Gross profit
$1.5B
Revenue
$2.0B
Cost of revenue
$498.8M
Quarter-over-quarter change
+1.7 pts
Year-over-year change
+0.1 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 |
|---|---|---|---|---|
| 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% |
| Jun 30, 2025 | $2.0B | $1.5B | $498.8M | 74.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2025
+1.7 pts
Year-over-year change
Jun 30, 2024
+0.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most observable driver was revenue growth outpacing cost of revenue, as cost of revenue showed little change from the prior quarter and was slightly below the year-ago level.
Sequentially, gross margin improved, while on a year-over-year basis it remained broadly stable with a marginal improvement.
Monitor cost of service trends given its relative stability against rising revenue in recent quarters.