Euronet Worldwide Inc. publishes 2013 Q2 report revealing double digit growth
Electronic payment provider and transaction processing solutions, Euronet, has revealed that the second quarter of 2013 proves successful growth figures compared to the same time last year, with a 13% increase from $302.4 million to $341.5 million.
Rob Frasca Talks Ndau as an Adaptive Store of ValueGo to article >>
Chief Executive Officer, Michael J. Brown, Chairman and Chief Executive Officer commented on the results: “Overall, this was another exceptional quarter for our business with 23% year-over-year growth in cash earnings per share for the second quarter.”
He goes on to explain that all three contributing segments of the business were responsible for Euronet’s success:
- Money Transfer and EFT growth remained solid because of network expansion and increased call for value add.
- ePay developed, as a result of better sales in non-mobile product sales and prepaid mobile.
- EBITDA and operating income, owing to non-mobile product sales.
Some other interesting figures include:
- Operating income increased from $19.9 million to $27.8 million (40%).
- Adjusted EBITDA (2) increased from $39.0 million to $47.7 million (22%).
- Transactions increased from 570 million to 587 million (3%).
- Net income attributable to Euronet increased from $5.7 million to $18.1 million ($0.35 diluted earnings per share, compared with net income of $0.11 diluted earnings per share).