Euronet Worldwide, Inc. beat analysts estimates on earnings. Its revenue, though increased from the year-ago period, still fell short of expectations.
The electronic payment services company’s third-quarter 2019 earnings came in at $2.84 per share, surpassing the Zacks Consensus Estimate by 1.4%. Earnings were +31.5% higher compared to the year-ago quarter.
Total revenue increased +10.1% year-over-year to $787 million – but missed the Zacks Consensus Estimate by -4%.
EFT Processing Segment saw total revenues surge +21% (+26% in constant currency) year over year. Operating income for the segment was + 37% higher from the year-ago quarter (+42% on constant currency basis).
The company’s epay Segment’s total revenues increased +3% year-over-year (+7% up on constant currency basis). Operating income was up +23% year-over-year (+27% on constant currency basis).
The Money Transfer Segment’s revenues rose + 5% (+7% at constant currency). Operating income for this segment was up +6% in constant currency.
Euronet’s total transactions for the quarter came in at 1.23 million, representing a +21% year- over –year increase. The company’s overall operating income rose almost +29% to $194 million in the quarter.
Looking ahead, Euronet expects adjusted earnings per share for the fourth quarter to be around $1.61 (assuming foreign exchange to be stable).