UPDATE 2-VeriFone profit beats targets; shares rise

* Q1 adj. EPS $0.17 vs est. $0.15

* Q1 revenue $214 mln vs est. $220.84 mln

* Sees Q2 adj. EPS $0.14-$0.18 vs est. $0.18

* Shares up 5 pct

* Cuts 100 jobs in December

By Mansi Dutta

BANGALORE, March 3 (Reuters) - VeriFone Holdings Inc (PAY.N) (PAY.TA), a maker of credit card payment machines, reported an adjusted quarterly profit that beat market estimates, helped by higher revenue at its systems solutions group, sending its shares up 5 percent.

The company said in a conference call that it shed 100 jobs in December and 500 jobs over the last 12 months.

VeriFone's first-quarter net loss rose to $182 million, or $2.15 a share, from $33.5 million, or 40 cents a share, a year ago.