Credit card processor Alliance Data Systems Corp bumped up its full-year earnings forecast for the second time this year after posting a better-than-expected second-quarter profit, helped by strong sales in its customer loyalty programs business.Sales at the unit, LoyaltyOne, jumped 62 percent to $355.6 million, accounting for about 28 percent of the total revenue.LoyaltyOne owns and operates the Air Miles Reward Program, one of the top loyalty programs in Canada.The company's private-label credit cards business also performed well during the quarter.
Alliance Data Systems Corporation is a provider of transaction-based, data-driven marketing and loyalty solutions serving consumer-based businesses in a variety of industries. Shares of ADS traded higher by 0.64% or $1.77/share to $276.94. In the past year, the shares have traded as low as $186.78 and as high as $300.49. On average, 754906 shares of ADS exchange hands on a given day and today's volume is recorded at 647227.
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