Global Payments Takes Charge of $84 Million for Data Breach
Andrew R. Johnson of Dow Jones Newswires reports:
Global Payments Inc. (GPN) said Thursday a security breach that exposed potentially millions of consumers’ payment cards to fraudsters will cost it $84.4 million.
The Atlanta-based company, which processes card transactions for banks and merchants, recorded a pre-tax charge for the amount, equal to 68 cents of diluted per-share earnings, in the fiscal fourth quarter. The amount reflects expected charges from payment networks such as Visa Inc. (V) and MasterCard Inc. (MA) and expenses related to its investigation and remediation of the matter.
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