MoneyGram: 4Q Earnings Snapshot
DALLAS (AP) _ MoneyGram International Inc. (MGI) on Monday reported a loss of $12.5 million in its fourth quarter.
The Dallas-based company said it had a loss of 19 cents per share. Earnings, adjusted for one-time gains and costs, came to 1 cent per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The money transfer company posted revenue of $345.8 million in the period.
For the year, the company reported that its loss narrowed to $24 million, or 37 cents per share. Revenue was reported as $1.45 billion.
In the final minutes of trading on Monday, the company’s shares hit $2.57. A year ago, they were trading at $10.94.