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Euronet Worldwide Inc., an electronic payments provider, has reported consolidated year-over-year results for the Q1 2019 as follows (percentage on a constant currency basis is shown in parentheses):
"I am pleased we were able to deliver adjusted earnings per share of $0.85, a 16% year-over-year increase," Euronet chairman and CEO Michael J. Brown said in a press release. "EFT growth was the result of continued ATM and product deployments. Money transfer delivered a strong quarter with continued success in both physical and digital channels. And e-pay continued to benefit from digital media growth, formerly referred to as nonmobile content."
Year-over-year results for the EFT processing segment were as follows:
Double-digit constant currency revenue, operating income and adjusted EBITDA growth was largely the result of a 10% year-over-year increase in active ATMs and an 11% increase in transactions, the company said.
The increase in transactions was primarily from growth in Europe and India, including an increase in traditional cash withdrawals and value-added transactions (i.e., dynamic currency conversion, domestic and international surcharge and foreign currency dispensing transactions) at both ATMs and point-of-sale terminals.
Year-over-year results for the e-pay segment were as follows:
During the quarter, the e-pay segment adopted the term "digital media" to refer to the breadth of content beyond mobile.
According to the release, transaction growth was the result of increases across Europe and strong contributions from India, including a large volume of low-margin mobile transactions.
Year-over-year results for the money transfer segment were as follows:
Double-digit constant currency revenue, operating income and adjusted EBITDA growth was driven by strong growth across most sectors of the money transfer business, including both physical and digital transfers.
Money transfers grew 10% during the quarter and nontransfer transactions, such as currency exchange and check cashing, grew 5%, resulting in total transaction growth of 10%, the company said.
Companies: Euronet Worldwide, Inc.