Business

Market Movers

VeriFone reports loss but outlook shines

One analyst lifted his rating of VeriFone to outperform.

Aaron M. Sprecher/Bloomberg

One analyst lifted his rating of VeriFone to outperform.

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Shares of VeriFone Systems Inc., which makes terminals for electronic payments, rose Friday despite the company’s report of a third-quarter loss. Adjusted results, however, beat Street predictions. The San Jose, Calif.-based company also issued a strong guidance for the current period, saying that it expects to post a profit of 25 cents per share, matching the average analyst estimate. Revenue is expected to total between $418 million and $422 million, ahead of expectations of $411.8 million. VeriFone also said 2014’s first quarter should show “modest” growth over October-quarter results.

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