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ATM deployer Euronet bags double-digit year-over-year gains in Q2

July 27, 2018

Euronet Worldwide Inc., a Leawood, Kansas-based electronic payments provider, has reported its second quarter 2018 financial results.

The company reported the following consolidated results for Q2 2018 compared with Q2 2017:

• Revenues of $622.2 million, a 16 percent increase from $536.6 million (11 percent increase on a constant currency basis).
• Operating income of $90.4 million, a 36 percent increase from $66.7 million (27 percent increase on a constant currency basis).
• Adjusted operating income of $90.4 million, a 26 percent increase from $71.5 million (18 percent increase on a constant currency basis).
• Adjusted earnings per share of $1.32, a 21 percent increase from $1.09.
• Transactions of 968 million, an 8 percent increase from 898 million.

"The 21 percent increase in adjusted EPS was the result of double-digit operating income growth in EFT and money transfer while continuing to invest in growth," Euronet Chairman and CEO Michael J. Brown said in a press release.

Euronet operated 41,205 ATMs as of June 30, a 10 percent increase from 37,383 the previous year.

The year-over-year increase in ATM count was due to the deployment of approximately 3,200 high-value ATMs across Europe and India; the acquisition of approximately 400 Easycash ATMs in Ireland; and approximately 300 ATMs under low-margin agreements in India, the release said.