Global Payments Inc delivered a Q2 2025 revenue of $1.9567 billion, up from prior-year levels by a modest 0.7% but notably down 18.9% versus the immediately preceding quarter. The quarter was characterized by a solid gross margin of 74.5% and a healthy operating margin of 21.8%, with operating income of $427.2 million and net income of $241.6 million (EPS $0.99). The year-over-year decline in net income of 35.5% reflects non-operating and expense dynamics, including a negative total other income component and investment in platform capabilities, while revenue remained relatively resilient in a slowing macro backdrop. Free cash flow remained robust at $665.4 million, supported by $817.5 million of operating cash flow and capital expenditures of $152.2 million.