DALLAS (AP) — MoneyGram International Inc. (MGI) on Monday reported fourth-quarter net income of $7.3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Dallas-based company said it had profit of 8 cents. Earnings, adjusted for one-time gains and costs, were 12 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The money transfer company posted revenue of $323.3 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $326.6 million.
For the year, the company reported that its loss narrowed to $7.9 million, or 10 cents per share. Revenue was reported as $1.22 billion.
For the current quarter ending in April, MoneyGram said it expects revenue in the range of $300 million.
MoneyGram shares have climbed 99% since the beginning of the year. The stock has nearly quadrupled in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MGI at https://www.zacks.com/ap/MGI
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