Feb 4 (Reuters) – Business payments firm Corpay reported a rise in fourth-quarter profit on Wednesday, as resilient business spending boosted its corporate payments segment. Despite macroeconomic uncertainty fueled by the Trump administration’s trade policies, consumer and business spending in the U.S. has largely held up, driving growth at companies such as Corpay. The Atlanta, […]
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Corpay quarterly profit rises on resilient business spending
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Feb 4 (Reuters) – Business payments firm Corpay reported a rise in fourth-quarter profit on Wednesday, as resilient business spending boosted its corporate payments segment.
Despite macroeconomic uncertainty fueled by the Trump administration’s trade policies, consumer and business spending in the U.S. has largely held up, driving growth at companies such as Corpay.
The Atlanta, Georgia-based firm provides payment solutions that enable businesses and consumers to track and manage expenses.
Revenue in its corporate payments division jumped 39% to $480.8 million in the quarter ended December 31 from a year ago, underscoring steady business spending and strong demand for its vendor payment tools.
Total revenue in the quarter rose 21% to $1.25 billion, while analysts expected $1.23 billion, according to data compiled by LSEG.
Profit attributable to Corpay came in at $264.5 million, or $3.75 per share, compared with $246 million, or $3.44 per share, in the same period a year ago.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Pooja Desai)