Euronet Worldwide, a global leader in financial technology, has exceeded analysts' expectations once again, as it reported impressive third-quarter revenue and adjusted earnings. The company's shares surged by 7% to reach $82.06 following the announcement.
Continual Growth in Stock Price
Despite hitting a 52-week low of $73.84 just last Friday, Euronet Worldwide's stock has experienced an overall increase of 7% over the past year.
Stellar Financial Results
In the third quarter, Euronet Worldwide achieved a remarkable $1 billion in revenue, surpassing the previous year's revenue of $931.3 million. Analysts had predicted revenue of $986 million, highlighting the company's outperformance.
Furthermore, the earnings for the quarter reached $104.2 million, or $2.05 per share, compared to the previous year's earnings of $98.8 million, or $1.87 per share. Although analysts had anticipated earnings of $120.5 million, or $2.31 per share, Euronet Worldwide still demonstrated formidable financial strength.
Adjusted Earnings Meet Expectations
The company's adjusted earnings per share were reported at $2.72, slightly exceeding analysts' expectations of $2.70 per share.
For the fourth quarter, Euronet Worldwide anticipates adjusted earnings of $1.75 per share. Analysts have projected slightly lower adjusted earnings of $1.67 per share.
Euronet Worldwide's consistent success and strong financial performance solidify its position as a top contender in the financial technology industry.