MoneyGram gains on Q2 earnings

MoneyGram International

05/08/2022 17:25

** Shares of payments and money transfer firm MoneyGram
International  MGI.O  up 1.2% at $10.35 in afternoon trading 
    ** Co posts Q2 profit of $3.1 million vs year-ago loss of
$11.1 million  urn:newsml:reuters.com:*:nPn9mKBVda
    ** MGI says digital revenue in the quarter hit record high
but was partially offset by continued softness in the walk-in
retail business in certain markets 
    ** "Consumers globally will face challenges as the impact of
rising inflation places more pressure on their disposable
income" - CEO Alex Holmes 
    ** On an adjusted basis, MGI reports profit of 9 cents per
share vs 1 cent per share last year
    ** Earlier this year, PE firm Madison Dearborn Partners
agreed to buy MGI in a $1.8 billion deal  urn:newsml:reuters.com:*:nL4N2UQ3Q6
    ** Co adds it is continuing "to make progress toward
completing the closing conditions of the previously announced
merger transaction" 
    ** Stock up ~30.5% YTD 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))