Euronet Worldwide Gains On Upbeat Quarterly Results

Shares of electronic payment services provider Euronet Worldwide, Inc. (EEFT) are rising more than 8% Friday morning after reporting upbeat third-quarter results, above analysts’ expectations. The company’s fourth-quarter earnings outlook also came in above consensus estimates.

Net income in the third quarter increased to $104.2 million, or $2.05 per share, from $97.7 million, or $1.87 per share in the same quarter a year ago. Excluding one-time items, earnings were $2.72 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $2.70 per share.

Quarterly revenues were $1.004 billion, an 8% increase from $931.3 million a year ago. The consensus estimate was for $983.68 million.

For the fourth quarter, the company expects adjusted EPS to be $1.75, above the Street view of $1.68.

EEFT, currently at $83.75, has traded in the range of $73.84 – $121.55 in the last 52 weeks.

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