MoneyGram Q4 Profit Soars

(RTTNews) - MoneyGram International, Inc. (MGI) reported Friday a net income for the fourth quarter of $21.8 million or $0.22 per share, sharply higher than $4.2 million or $0.04 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.23 per share, compared to $0.22 per share last year.

Total revenue for the quarter increased 5 percent to $342.1 million from $324.6 million in the same quarter last year. On a constant currency basis, total revenue increased by 10 percent. Excluding the impact of Walmart, total revenue increased 13 percent on a constant currency basis.

Looking ahead, Chairman and CEO Alex Holmes said, "The company is on track to capture growth from new global customer segments through a more expansive set of fintech offerings, while reshaping our Brand position through our title partnership with MoneyGram Haas F1 Team."