Strategic Performance and Market Dynamics – Management attributed the 10% adjusted EPS growth to the resilience of a diversified model, where high-growth digital accelerators offset softness in legacy segments. – Digital accelerator revenue grew 31% in the quarter, significantly…
ceeding the 23% long-term framework established at Investor Day, driven by Ria Digital, Issuing, and Merchant Services. – Cross-border payments faced a ‘market-wide dynamic’ where U.S. immigration enforcement led to the first annual decline in the outbound remittance market in over a decade. – ATM transaction softness was linked to U.S.-to-Europe airline bookings being 5%-8% below 2025 peaks and European travelers becoming more selective with discretionary spending. – The CoreCard acquisition has fundamentally shifted the sales narrative for the Ren platform, enabling wins like Unibanca by providing a single strategic modernization partner for complex credit architectures. – The epay segment is pivoting toward a ‘direct-to-publisher’ strategy in gaming to capture higher economics as app store billing frameworks evolve and publishers seek more distribution control. Outlook and Strategic Assumptions – Full-year adjusted EPS growth guidance remains at 10%-15%, assuming digital growth continues to balance the quarterly mix and reduce historical seasonality. – Management expects the second and third quarters to represent a smaller share of annual earnings compared to historical patterns as digital initiatives scale. – The Rockstar Grand Theft Auto VI launch in November is expected to drive an extended engagement cycle of digital spending across pre-orders, subscriptions, and in-game purchases. – Guidance assumes approximately $6 million in increased interest expense for the remainder of the year following the settlement of EUR 700 million bonds in May. – Strategic investments in XE and small business payments are planned for the second half of 2026 to leverage the company’s global payout