DALLAS (AP) _ MoneyGram International Inc. (MGI) on Thursday reported a second-quarter loss of $27.2 million, after reporting a profit in the same period a year earlier.
The Dallas-based company said it had a loss of 41 cents per share. Earnings, adjusted for one-time gains and costs, were 12 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The money transfer company posted revenue of $323.8 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $342.3 million.
The company's shares closed at $2.61. A year ago, they were trading at $6.49.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MGI at https://www.zacks.com/ap/MGI
Automated Insights, source Associated Press News