EEFT - Why Euronet Worldwide Stock Popped Today
2023-10-20 15:41:54 ET
Shares of Euronet Worldwide (NASDAQ: EEFT) were up 8.8% as of 3:25 p.m. EDT Friday, according to data provided by S&P Global Market Intelligence , after the electronic payment services company announced strong quarterly results.
Euronet's third-quarter revenue climbed 8% year over year (3% on a constant-currency basis) to just over $1 billion, while adjusted ( non-GAAP ) earnings per share fell 1% to $2.72. Analysts, on average, were looking for adjusted earnings of only $2.70 per share on revenue of $986 million.
In fact, this was Euronet's first-ever $1 billion+ revenue quarter despite economic and geopolitical strife around the world -- a feat Chairman and CEO Michael Brown credited to both Euronet's geographical diversity and the consistency of its product.
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Why Euronet Worldwide Stock Popped Today