LEAWOOD, Kan., July 24, 2018 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. (“Euronet” or the “Company”) (NASDAQ:EEFT), a leading electronic payments provider, reports second quarter 2018 financial results.

Euronet reports the following consolidated results for the second quarter 2018 compared with the same period of 2017:

• Revenues of $622.2 million, a 16% increase from $536.6 million (11% increase on a constant currency⁽¹⁾ basis).
• Operating income of $90.4 million, a 36% increase from $66.7 million (27% increase on a constant currency basis).
• Adjusted operating income⁽²⁾ of $90.4 million, a 26% increase from $71.5 million (18% increase on a constant currency basis).
• Adjusted EBITDA⁽³⁾ of $121.2 million, a 22% increase from $99.1 million (15% increase on a constant currency basis).
• Net income attributable to Euronet of $43.7 million or $0.82 diluted earnings per share, compared with net income of $51.4 million or $0.93 diluted earnings per share.
• Adjusted earnings per share⁽⁴⁾ of $1.32, a 21% increase from $1.09.
• Transactions of 968 million, an 8% increase from 898 million.

"I am pleased we delivered double-digit growth across most all of our consolidated financial metrics," stated Michael J. Brown, Euronet's Chairman and Chief Executive Officer. "The 21% increase in Adjusted EPS was the result of double-digit operating income growth in EFT and Money Transfer while continuing to invest in growth.  epay largely continued on pace with the prior year as we expected, with growth from non-mobile content offsetting certain mobile declines."

See the reconciliation of non-GAAP items in the attached financial schedules.

Segment and Other Results

The EFT Processing Segment reports the following results for the second quarter 2018 compared with the same period or date in 2017:

• Revenues of $194.9 million, a 25% increase from $156.0 million (18% increase on a constant currency basis).
• Operating income of $52.9 million, a 35% increase from $39.3 million (26% increase on a constant currency basis).
• Adjusted operating income of $52.9 million, a 27% increase from $41.6 million (19% change on a constant currency basis).
• Adjusted EBITDA of $69.3 million, a 26% increase from $54.8 million (19% increase on a constant currency basis).
• Transactions of 677 million, an 18% increase from 574 million.
• Operated 41,205 ATMs as of June 30, 2018, a 10% increase from 37,383.

Double-digit second quarter constant currency revenue, operating income and adjusted EBITDA growth was largely the result of a 10% year-over-year increase in active ATMs and an 18% increase in transactions.  The increase in transactions was primarily from growth in Europe and India - including an increase in the number of value added transactions on both ATMs and point-of-sale terminals.

The year-over-year increase in ATM count was due to the deployment of approximately 3,200 high-value ATMs across Europe and India, the acquisition of approximately 400 Easycash ATMs in Ireland and approximately 300 ATMs under our low-margin agreements in India.