Global Payments rises after reporting higher Q1 adjusted profit

Shares of payments technology firm Global Payments GPN.N up 1.7% at $80.60 in premarket trade

GPN reports rise in Q1 adjusted profit bolstered by consistent revenue growth from its merchant solutions business

On an adjusted basis, Global Payments reported a 0.5% rise in its merchant solutions revenue and a 2.6% rise in its issuer solutions business

Net profit attributable to the company, also on an adjusted basis, rose to $665.3 million, or $2.69 per share, in the three months ended March 31, compared with $634.2 million, or $2.46 per share, a year earlier

As of last close, GPN down nearly 29% YTD