EBIX - Ebix shares rise after Q3 revenue beat

Ebix (EBIX) shares rise 3% pre-market after reporting upside revenue of $154.3M (+5% Y/Y, $35.12M above estimates) though the $0.93 EPS missed by $0.06.Revenue breakdown: EbixCash Exchanges, $96.8M (+18% Y/Y); Insurance Exchanges, $42.4M (-11%); RCS - Insurance, $15.2M (-15%)."In spite of the continued impact of COVID-19 across several major areas of our global operations, we are reporting Q3 2020 revenues of $154.3 million, a 39% increase over Q2 2020 and 5% increase over Q3 2019. The diversity of our revenue sources has allowed Ebix to increase its overall revenues despite continued significant declines in its travel, forex, e-learning and remittance businesses. Our global payment solutions business continues to benefit from strong customer demand for prepaid cards and other payment solutions. The Company continued to generate strong cash flows in the quarter with year-to-date operating cash flows of $71.8 million," says CEO Robin Raina.The company refrains from providing guidance due to the continuing pandemic uncertainties.Press release. Previously:

For further details see:

Ebix shares rise after Q3 revenue beat