MoneyGram (MGI) Misses Q1 EPS by 11c

MoneyGram (NASDAQ: MGI) reported Q1 EPS of $0.15, $0.11 worse than the analyst estimate of $0.26. Revenue for the quarter came in at $380 million versus the consensus estimate of $386.32 million.

"2018 will be a transition year for MoneyGram as we continue to invest and reposition the company to compete in a fast changing environment," said Alex Holmes, MoneyGram's chairman and chief executive officer. "We are increasing our investments in digital assets as we accelerate our transition to a digitally enabled customer-first organization. At the same time, our focus on compliance will underpin our future success. Fraud and risk are on the rise globally and we are enhancing our processes and systems to provide our customers with the best experience and the highest standards of protection. During the quarter, we implemented significant new compliance standards which are above and beyond what is currently required by law and without comparison in the money transfer industry. While these standards are expected to adversely impact transactions and revenue in 2018, we are setting the industry paradigm and intend to be at the forefront of compliance as we lead our business into the future."

Full Year 2018 Outlook

Including the company's first quarter results along with the expected impact of its new compliance standards and recently announced Walmart2World service, the company estimates full year 2018 constant

For earnings history and earnings-related data on MoneyGram (MGI) click here.

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