Moneygram Int'l Swings To Q2 Profit, Boosts Revenue Outlook - Quick Facts

(RTTNews) - Moneygram International Inc. (MGI) reported net income of $19.1 million or $0.27 per share for the second quarter, compared to a net loss of $25.1 million or $0.35 per share in the prior-year quarter.

Total revenue for the quarter increased 11 percent to $365.1 million from $330.1 million in the same quarter last year. Revenue grew 10 percent on a constant currency basis.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.31 per share on revenues of $355.49 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2013, the company increased its outlook for revenue growth on a constant currency basis to 7 to 10 percent from the previous guidance for 6 to 9 percent growth. However, the company continues to estimate constant currency adjusted EBITDA growth of 3 to 6 percent. Street is currently looking for full-year 2013 revenues of $1.44 billion.