Business

Profit jumps at Euronet Worldwide

Pedestrians pass an automated teller machine operated by Euronet Worldwide in Warsaw, Poland
Pedestrians pass an automated teller machine operated by Euronet Worldwide in Warsaw, Poland Bloomberg

Leawood-based Euronet Worldwide on Wednesday posted a $29.1 million profit in the first quarter, three times larger than its profit in the same quarter last year, when foreign currency exchange losses weighed on earnings.

The recent profit equaled 53 cents a share, compared with 13 cents a share a year ago. Revenue was up 11 percent to $437.9 million in the quarter.

Euronet operates a global network of automated teller machines and provides money transfer, e-pay and other services, with clients in 165 countries. The company said its money transfer business continues to benefit from its Walmart-2-Walmart program launched two years ago.

“Each of our three segments delivered constant-currency operating income growth as a result of our continued focus on adding more products, more devices and more locations in more countries,” chief executive Michael J. Brown said in the company’s announcement.

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Mark Davis: 816-234-4372, @mdkcstar

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