Bulls charge up on MoneyGram's strong start to Q4
Nov. 13, 2020 4:56 PM ETMoneyGram International, Inc. (MGI)MGIBy: SA News Team3 Comments
- MoneyGram International (NASDAQ:MGI) reports 150% Y/Y growth for October in its direct-to-consumer digital business, MGO, which marks the triple-digit percentage increase straight since the start of this year.
- The strong start to Q4 underscores the company's prior quarter results, where operating income increased 123% and Adj. EBITDA grew 33% Y/Y driven by high customer retention rates and strong consumer demand for its mobile app.
- "These results continue to demonstrate our ability to capture share as we strengthen our market position due to the success of our customer-led digital transformation," says chairman and CEO Alex Holmes.
- See full Q3 earnings presentation, here.
- MGI surged up 20.74% intraday, after falling nearly 2% yesterday.