MoneyGram International Posts Narrower Loss In Q1

(RTTNews) - MoneyGram International Inc. (MGI) Friday announced narrower net loss for the first quarter to $4.2 million or $0.07 per share from loss of $72 million or $1.16 per share last year.

On average, 13 analysts polled by Thomson Reuters expected the company to earn $0.17 per share. Analysts estimates usually exclude special items.

Revenue for the quarter increased to $358.4 million from $330.6 million in the prior year. Wall Street expected $354.55 million.

Alex Holmes, chief executive officer said, "While global markets continue to be impacted by political and economic instability, we are navigating through these challenges and remain comfortable with our full year 2016 constant currency revenue outlook of 8%-10% growth."

Based on the performance of the first quarter, the company raised its full year adjusted EBITDA growth outlook to 9 to 11 percent. For the full year 2016, analysts expect $0.91 per share on revenue of $1.55 billion.