Euronet Worldwide Reports Third Quarter 2017 Financial Results
LEAWOOD, Kan., Oct. 19, 2017 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. ("Euronet" or the "Company") (NASDAQ:EEFT), a leading electronic payments provider, reports third quarter 2017 financial results.
Euronet reports the following consolidated results for the third quarter 2017 compared with the same period of 2016:
- Revenues of $637.8 million, a 22% increase from $524.0 million (18% increase on a constant currency(1) basis).
- Operating income of $116.9 million, a 29% increase from $90.5 million (24% increase on a constant currency basis).
- Adjusted operating income(2) of $117.0 million, a 29% increase from $90.5 million (24% increase on a constant currency basis).
- Adjusted EBITDA(3) of $145.4 million, a 27% increase from $114.1 million (22% increase on a constant currency basis).
- Net income attributable to Euronet of $100.3 million or $1.80 diluted earnings per share, compared with net income of $60.7 million or $1.11 diluted earnings per share.
- Adjusted earnings per share(4) of $1.61, a 19% increase from $1.35.
- Transactions of 931 million, a 13% increase from 823 million.
"I am pleased we continued to deliver strong double-digit adjusted earnings per share growth in the third quarter," stated Michael J. Brown, Euronet's Chairman and Chief Executive Officer. "The 19% growth in adjusted earnings per share was led by the EFT Segment's exceptional revenue growth of 48% as a result of the ATM investments we made over the last 12 months. This phenomenal growth was followed by Money Transfer's delivery of double-digit revenue growth, despite price reductions given upon renewal of the Walmart agreement and the impacts of the hurricanes in the U.S., and epay's delivery of a solid growth quarter, with non-mobile growth continuing to offset mobile declines."
See the reconciliation of non-GAAP items in the attached financial schedules.
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