Total System Services, Inc.’s TSS first-quarter 2016 operating earnings per share (EPS) of 63 cents beat the Zacks Consensus Estimate by 10.5% and improved 23.5% year over year.Net revenues for the quarter increased 12.7% year over year to $671.6 million. However, the top line missed the Zacks Consensus Estimate by 2.9%. Revenues before reimbursable items came in at $739.4 million, up 11.7% year over year.Behind the HeadlinesOn a geographical basis, quarterly total revenues jumped 14.1% year over year to $303.6 million in North America. International Services revenues inched up 2.2% year over year to 75.4 million. Revenues from Merchant Acquiring Services climbed 9.3% year over year to $120.6 million. NetSpend revenues increased 19.3% to $184.9 million but Inter-segment revenues deteriorated 34.4% to $(12.9) million.As of Mar 31, 2016, total number of accounts on file was 750.5 million, was up 3.7% year over year.Total System reported a year-over-year increase of 8.9% in total expenses to $587.6 million. The increase stemmed from a 6.9% rise in cost of services and a 19.1% increase in selling, general and administrative expenses.Financial UpdateTotal assets soared 39.9% to $5.42 billion as of Mar 31, 2016 from $3.88 billion at year-end 2015. Total equity increased 3.9% to $1.92 billion as of Mar 31, 2016 from $1.85 billion at the end of 2015.Cash from operations were $145.8 million, down from $158.5 million in the year ago quarter. Free cash flow totaled $91.8 million, down from $99.9 million in the year-ago quarter.Revised Guidance for 2016Management now estimates 2016 total revenue before reimbursable items to increase 50– 53%, revenues to grow in the range of 22% to 24%, and adjusted EPS to grow in the range of 13% to 16%. This translates into total revenue before reimbursable items of $4,182–$4,264 million, revenues of $3,040–$3,102 million and adjusted EPS of $2.78–$2.85.Zacks Rank & Other StocksCurrently, Total System carries a Zacks Rank #2 (Buy). Recently, Visa Inc. V and Alliance Data Systems Corporation ADS released their earnings results. The bottom line at both Visa and Alliance Data beat their respective Zacks Consensus Estimates in the reported quarter. The Western Union Company WU, which holds a Zacks Rank #2 (Buy), is set to report its first-quarter 2016 earnings results today, after the market closes.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report VISA INC-A (V): Free Stock Analysis Report TOTAL SYS SVC (TSS): Free Stock Analysis Report ALLIANCE DATA (ADS): Free Stock Analysis Report WESTERN UNION (WU): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research