MoneyGram: 2Q Earnings Snapshot
DALLAS (AP) _ MoneyGram International Inc. (MGI) on Friday reported second-quarter net income of $2.3 million.
On a per-share basis, the Dallas-based company said it had profit of 3 cents. Earnings, adjusted for one-time gains and costs, were 21 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The money transfer company posted revenue of $374.6 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $387.9 million.
MoneyGram shares have fallen 50 percent since the beginning of the year. The stock has fallen 59 percent in the last 12 months.