MoneyGram Q3 Loss Narrows

MoneyGram International Inc. (MGI) reported that its net loss for its third quarter ending September 30, 2019 narrowed to $7.7 million or $0.10 per share from $20.9 million or $0.32 per share last year.

Adjusted loss per common share was $0.03 compared to net income of $0.24 in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.03 per share for the quarter. Analysts' estimates typically exclude special items. Total revenue for the quarter declined to $324.6 million from $347.2 million last year. Analysts expected revenue of $334.45 million for the quarter.

For the fourth quarter of 2019, the company anticipates total revenue of about $330 million, and adjusted EBITDA of about $50 million.

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