MGI stock is tanking on Friday after MoneyGram International Inc (NASDAQ:MGI) reported underwhelming Q3 results, including a loss of $7.7 million USD.
Disappointing Earnings Sink MGI StockThe Dallas-based money transfer service reported a total revenue of $324.6 million USD, down from the $347.3 million USD reported in the same period last year. Revenue from money transfers alone fell to $284.9 million USD from $304.2 million USD in Q3 2018, while revenue from investments such as cryptocurrency firm Ripple accounted for $13.4 million USD. Crucially for MGI stock, earnings per share came in at a loss ...
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