TSYS reported results for the first quarter of 2017.

“We are extremely pleased to report an outstanding beginning to 2017 with across the board high double digit growth in our consolidated revenues, income and earnings per share in the first quarter. We continue to execute on our strategy of diversification and growth of our businesses while maintaining our leadership in technology, product innovation and service to our customers,” said M. Troy Woods, chairman and chief executive officer of TSYS.

Highlights for the first quarter of 2017:

• Total revenues were $1.2 billion, an increase of 60.2% over last year’s $739.4 million.

• Net revenue (non-GAAP), which excludes reimbursable items, interchange and assessment expenses, was $832.9 million, an increase of 24.0% over last year’s $671.6 million.

• Net income attributable to TSYS common shareholders was $105.9 million, an increase of 16.8% over last year’s $90.6 million. Diluted earnings per share were $0.57, an increase of 16.1% over last year’s $0.49.

• Adjusted earnings (non-GAAP) were $152.3 million, an increase of 26.1% over last year’s $120.7 million. Adjusted diluted earnings per share (non-GAAP) were $0.82, an increase of 25.4% over last year’s $0.66.

• Adjusted EBITDA (non-GAAP) was $287.2 million, an increase of 24.4% over last year’s $230.8 million.

Increasing 2017 Outlook

“As a result of our strong first quarter performance and the six-month delay in the effective date of the CFPB's rule governing prepaid accounts, we are increasing our revenue and EPS guidance for 2017. We are raising our total revenue and net revenue guidance by $20 million as a result of the rule's delay. We are also raising our EPS guidance by $0.11 per share,” said Woods.

The 2017 revised guidance is below.