Euronet Worldwide Reports Strong Q2 Earnings Amid Digital Growth
Euronet Worldwide (NASDAQ:EEFT) reported second-quarter adjusted earnings per share of $2.82, a 10% increase year-over-year driven by strong performance in digital payment initiatives. The company recorded its fifth consecutive quarter of double-digit adjusted EPS growth and maintained its full-year guidance for 10-15% EPS expansion. Digital accelerators were the primary driver behind Euronet's success, with revenue rising 31% year-over-year to account for 26% of total annual company revenue. This segment includes Ria Digital, payment issuing, and merchant services. However, cross-border payments remained a drag on performance due to lower U.S.-to-Mexico remittance volumes. The CFO reported $1.1 billion in quarterly revenue with strong free cash flow generation and share repurchases totaling $50 million for 705,000 shares. Euronet also settled €700 million bonds at the end of May, which increased interest expenses but is expected to be manageable through year-end.
Tickers: $EEFT
Topics: cross-border remittances digital payments financial performance