RTTNews | Feb 22, 2021 07:32AM EST

07:31 Monday, February 22, 2021 (RTTNews.com) - MoneyGram International, Inc. (MGI) reported fourth-quarter net income of $7.3 million or $0.08 per share. This compares with net loss of $11.9 million or $0.16 per share in the same quarter a year ago.

Earnings, excluding items, were 10.7 million or $0.12 per share in the quarter. On average 6 analysts polled by Thomson Reuters expected the company to report earnings of $0.08 per share. Analysts' estimate typically exclude special items.

Revenue for the quarter was nearly flat at $323.3 million compared with $323.7 million in the corresponding quarter last year. Analysts were expecting revenue of $326.62 million for the quarter.

Looking forward to the first quarter, the company anticipates total revenue of about $300 million. The consensus estimate stands at $298.53 million.

Commenting on the outlook, Chief Executive Alex Holmes, said, "As our transformational journey continues, our modern, mobile, API-driven platform puts MoneyGram in a strong position to quickly adapt to changing conditions, and we are confident in the underlying strength of our business led by our growing customer base."

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