US-based electronic payments provider Euronet posted attributable net income of $60m for the fourth quarter of 2018, compared with a net loss of $22.9m a year earlier.
The company’s operating income for the quarter ended 31 December 2018 stood at $71.2m. This represents a surge of 73% from $41.1m in the same quarter of 2017.
Adjusted operating income was $84.8m, up 15% from $73.6m in the previous year.
Revenues too reported an increase, with a 7% year-on-year growth to $649.4m.
Compared to the previous year, transactions increased 15% to 1.08 billion.
The company’s EFT Processing Segment reported 19% surge in revenues to $753.6m.
The segment’s operating income soared 21% to $197.2m from $162.9m a year ago.
In the epay Segment, revenues dropped 3% to $215m on a year-on-year basis.
The epay Segment posted operating income of $29.3m for the three months to December 2018, as against a loss of $6.3m in the corresponding quarter of 2017.
The Money Transfer Segment reported quarterly revenues of $274.1m, up 15% from the previous year.
Operating income at the segment remain almost unchanged at $29.3m.
Euronet chairman and CEO Michael Brown said: “We finished the year strong, delivering fourth quarter adjusted EPS of $1.37, a 21% year-over-year increase. This strong fourth quarter growth included double-digit revenue and adjusted EBITDA contributions from all three segments, together with beneficial income tax expense.
“EFT sustained its growth from continued expansion of our ATM networks. epay delivered a strong fourth quarter resulting from seasonally strong sales of non-mobile content. And Money Transfer continued its strong growth trends from success in both the physical and digital channels.”