Why MoneyGram International Stumbled on Friday - The Motley Fool

Returns as of 10/30/2021
Returns as of 10/30/2021
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MoneyGram Worldwide (NASDAQ:MGI) shareholders weren't feeling very flush on Friday, as their inventory sank by over 8%. The cash switch firm's newest quarterly outcomes had been the direct cause for the drop.
Thursday night time, MoneyGram printed its Q2 earnings report. This confirmed that the corporate earned $329.3 million, an 18% enchancment over the identical quarter in 2020. This was aided by a 41% achieve in quantity for cross-border transfers, an vital exercise for the corporate.
As for non-GAAP (adjusted) internet revenue, this got here in at round $600,000 ($0.01 per share) from the year-ago determine of roughly $900,000.
Picture supply: Getty Photographs.
Whereas MoneyGram solely managed to satisfy the typical analyst expectation for adjusted, per-share internet revenue, it notched a beat on the highest line. Prognosticators monitoring the inventory had been anticipating $321 million.
In its earnings launch, the financial services firm mentioned its enhancements got here from a report variety of each on-line prospects and transactions; as a money-moving enterprise, it has a lot to realize from successfully harnessing know-how.
MoneyGram proffered steerage for its present quarter (Q3). It wrote that it "expects enterprise situations to stay according to the second quarter," with whole income to be solely barely increased, at $323 million to $333 million. That vary, sadly, is slightly below the $333.25 million common analyst Q3 estimate. 
In the meantime, the corporate anticipates that adjusted EBITDA will fall between $52 million and $57 million; it didn't present a bottom-line forecast. That line merchandise was $54.8 million in Q2.

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