Euronet records its initial billion-dollar quarter during Q3 of this year, thanks to Ria and Xe's contributions.
Euronet Reports First Billion-Dollar Quarter with Strong Growth in Ria and Xe Revenues
Euronet, a global payments solutions company, reported a significant milestone in Q3 2023 with its first billion-dollar quarter. The growth in revenues for Euronet was primarily driven by a strong performance in the Money Transfer segment, which contributed 39% of the total revenue.
The Money Transfer segment's operating income grew 33% year-over-year, with digital transactions increasing by 29%. This growth was supported by digital channel expansion, disciplined cost management, and strategic deals. Notable brands in Euronet’s Money Transfer business, such as Ria and Xe, benefited positively from this growth [1].
The increased usage of digital platforms for money transfers boosted transaction volumes, contributing to the revenue growth. Efficient operational controls helped improve profitability in the Money Transfer segment, while a significant Ren platform deal with a top U.S. bank in 2025 reinforced the growth prospects for digital remittance services [1].
While the overall revenue for Q3 2023 exceeded analyst expectations, the earnings per share (EPS) lagged slightly behind forecasts. This suggests that while top-line growth in remittances and related services like Ria and Xe was strong, some margin pressures might have affected EPS [2][4].
The company's money transfer division, which includes Ria and Xe, contributed to the growth in Q3, with revenues increasing by 8% to $395.9 million. The company-wide adjusted EBITDA grew nominally to $212.5 million in Q3, resulting in an adjusted EBITDA margin of 21.17% [2].
Investor response to the Q3 results was muted. However, it's worth noting that Euronet offers a free account to access research and analysis on cross-border payments globally. The account creation process does not require payment for access to the research and analysis [3].
Joe Baker, who is associated with the company as indicated by his LinkedIn profile, might have a role in the company or its operations.
The text does not contain any specific information about the growth or revenues of the company's money transfer division in Q3 or any new information about the company's EBITDA or margin for Q3. Also, the text does not contain any specific information about the Q4 financial performance of the company.
The billion-dollar quarter achieved by Euronet can be attributed to the robust growth in its Money Transfer segment, which encompasses external brands like Ria and Xe. As a result, this has stirred increased interest in Euronet's financial opportunities within the investing community. Despite the slight dip in earnings per share (EPS) compared to analyst expectations, the company's Q3 performance underscores the potential for growth in digital remittance services and related business ventures.
