On April 17, 2025, the company agreed to acquire Global Payments' Issuer Solutions business for an enterprise value of $13.5 billion, with a net purchase price of $12.0 billion, and to sell all of its equity interest in Worldpay for a pre-tax value of $6.6 billion, net of transaction fees and other costs, with the remainder of the purchase price to be paid in cash.

1. 01

   On April 17, 2025, the company agreed to acquire Global Payments' Issuer Solutions business for an enterprise value of $13.5 billion, with a net purchase price of $12.0 billion, and to sell all of its equity interest in Worldpay for a pre-tax value of $6.6 billion, net of transaction fees and other costs, with the remainder of the purchase price to be paid in cash.

2. 02

   The company said the carrying value of its equity method investment in Worldpay as of March 31, 2025 was $3.8 billion, and it plans to incur approximately $8.0 billion of new debt to fund the cash portion of the purchase price, with closing expected in the first half of 2026.

3. 03

   The company said revenue in its Banking segment increased 2% for the 3 months ended March 31, 2025, Capital Markets segment revenue increased 8%, and Corporate and Other segment revenue decreased 36%.

4. 04

   The company said available liquidity as of March 31, 2025 was $4.0 billion, debt was $12.0 billion, and operating cash flow for the 3 months was $457 million, compared with $206 million in the prior-year period. Share repurchases in the quarter were approximately $110.3 million under the January 2021 program and $340 million under the August 2024 program.

Key figures

Quarter ended March 31, 2025

Revenue

$2.5B

Operating income

$347M

Net income

$77M

EPS

$0.15

Gross profit

$879M

Operating cash flow

$457M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.