MoneyGram has reported a net income of $4.9m for its third quarter ended 30 September 2015, compared with net loss of $3m a year ago.
Total revenue for the quarter was $368.6m, an increase of 8% on a constant currency basis and 3% on a reported basis.
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The company said that its money transfer transaction growth accelerated to 11% compared to 6% growth in the second quarter of 2015.
Money transfer revenue in the quarter was $326.6m, a 9% growth on a constant currency basis and 4% growth on a reported basis as compared to the prior year.
The company in its earnings statement said that non-US send transactions grew 17% led by sends from emerging markets and Europe. US outbound transactions grew 10% year-over-year, led by sends to Latin America and Africa.
The money transfer and payment services provider’s US-to-US transactions declined 2%, a significant improvement from the second quarter.
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By GlobalDataMoney transfer revenue from US outbound and Non-US sends grew 15% on a constant currency basis in the third quarter and accounted for 87% of total money transfer revenue, the company said.
