Welcome to our dedicated page for Euronet Worldwide news (Ticker: EEFT), a resource for investors and traders seeking the latest updates and insights on Euronet Worldwide stock.
Euronet Worldwide reports news on a global payments and cross-border transaction business serving financial institutions, merchants, brands and consumers. Updates commonly cover the company's EFT Processing, epay and Money Transfer segments, including ATM and point-of-sale services, merchant acquiring, prepaid and digital content distribution, card processing and money transfer brands such as Ria, AFEX, IME and xe.
Recurring developments include quarterly operating results, digital money transfer growth, payment-infrastructure agreements, REN platform activity, Dandelion network partnerships, stablecoin payout capabilities, common stock repurchases, investor events and board governance changes. News also tracks expansion of merchant services and card-processing relationships within Euronet's global real-time digital and cash payments network.
Ria Money Transfer has announced a strategic partnership with Mooney to enhance its international payments distribution in Italy. This collaboration allows Ria to leverage Mooney’s network of approximately 45,000 points of sale, servicing 20 million customers and facilitating over 200 million transactions annually. Customers can now send and receive euros more conveniently at Mooney’s POS terminals. This partnership aligns with Ria's growth strategy, aiming to improve customer experience and financial inclusion across Italy.
Euronet Worldwide (NASDAQ: EEFT) and Prosegur Cash have announced a joint venture to provide comprehensive ATM outsourcing services in Latin America. Euronet will hold a 51% stake while Prosegur Cash will own 49%. The venture will utilize Euronet's advanced payment technologies and ATM management solutions, leveraging Prosegur's established banking relationships and local expertise. With approximately 300,000 ATMs in the region, this partnership aims to capture outsourcing opportunities and deploy independent ATMs, enhancing cash access across Latin America.
Epay, a segment of Euronet Worldwide (NASDAQ:EEFT), has partnered with Revolut, a leading fintech app, to enhance digital gift card and prepaid product offerings across 36 countries. This integration allows users to purchase gift cards from popular brands like Twitch, Ikea, and Nintendo directly through the Revolut app. This innovative collaboration marks Revolut as the first fintech with a cross-category marketplace, aiming to improve user experience and customer retention. Future expansions of marketplace categories, including wellness and fashion, are also planned.
epay, a segment of Euronet Worldwide (NASDAQ: EEFT), has partnered with famehype to enhance global social commerce in the gaming and esports sectors. This collaboration addresses two key issues: connecting game publishers with loyal social media followers and streamlining e-commerce for influencers. The famehype platform enables influencers to sell epay's digital content alongside their merchandise. Following a successful launch in 14 European countries, further expansions are planned in major markets like the U.S., India, and Brazil. The influencer market is on track to grow significantly, reflecting evolving consumer behavior.
Euronet Worldwide, Inc. (EEFT) reported first-quarter 2021 results with revenues of $652.7 million, reflecting a 12% year-over-year increase. However, operating income decreased by 67% to $10.4 million, while adjusted EBITDA dropped 24% to $52.2 million. The company incurred a net loss of $8.7 million, or $0.16 per share, compared to a net income of $1.9 million in Q1 2020. Cash and equivalents stood at $1,145.4 million, with significant ATM cash of $339.9 million. The company anticipates adjusted EBITDA for Q2 2021 to be between $75 million and $85 million.
Euronet USA announced a virtual presentation discussing challenges faced by financial institutions in joining global real-time payment (RTP) networks. Conducted by Forrester Consulting, the study surveyed over 300 banking professionals on barriers to connecting legacy systems to RTP networks, comparing internal resources versus RTP solutions partners, and assessing risks in joining RTP networks. The presentation, titled 'Payments at the Speed of Life,' will take place on April 29, 2021, featuring insights from industry experts. Registration is free, and a recording will be available post-event.
Euronet Worldwide, Inc. (NASDAQ: EEFT) will release its first quarter 2021 earnings results before the market opens on April 29, 2021. A conference call is scheduled for 9:00 a.m. Eastern Time on the same day to discuss the results. Participants can access the conference call via a webcast available on the company's investor relations website. Euronet is a notable financial technology solutions and payments provider, featuring a vast global network of ATMs, POS terminals, and money transfer locations.
Euronet Worldwide (NASDAQ: EEFT) announced a €300 million acquisition of Piraeus Bank's Merchant Acquiring business, enhancing its presence in Greece's payment processing market. This deal includes about 205,000 POS terminals and expands Euronet's technology-driven service offerings through a long-term partnership with Piraeus Bank. The acquisition is expected to generate $80 to $90 million in revenue and $15 to $20 million in EBITDA in its first year. The deal aligns with the rising demand for digital payments in Greece, projected to nearly double by 2031.
Ria Money Transfer, a subsidiary of Euronet Worldwide (NASDAQ: EEFT), has extended its sponsorship deal with Atlético de Madrid from 4 to 5 years. This partnership allows Ria to maintain its branding on the club's shirt until 2024, enhancing its global brand visibility. Ria aims to strengthen connections with Atlético's fanbase and promote financial inclusion through its remittance services. Celebrating this continuation, Ria will release a short film featuring Atlético players, highlighting the importance of sending money home. Ria's services play a crucial role in supporting families globally.
Euronet Worldwide reports Q4 2020 revenues of $706.6 million, a 2% increase year-over-year, but full-year revenues fell 10% to $2.48 billion. Operating income dropped 53% in Q4 to $50.2 million and 90% for the year to $46.6 million. Adjusted EBITDA for Q4 was $91.9 million, a 35% decline, with net income falling to $70.2 million or $1.31 per share, down from $106.5 million or $1.91 the previous year. Despite challenges from COVID-19, segments like Money Transfer and epay showed revenue growth. The company holds $1.83 billion in cash and aims for Q1 2021 adjusted EBITDA of $50-$60 million.