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What: Shares of Cardtronics (Nasdaq: CATM ) have jumped today by as much as 11% after the company reported strong quarterly earnings.
So what: Revenue rose 38% to $191 million, much higher than the $171.4 million that investors were expecting. The bottom line also came in better than expected with a $0.38 per share profit. CEO Steve Rathgaber said the increase in tax refunds made on prepaid cards and subsequent ATM cash withdrawals were one factor boosting results.
Now what: On top of that, Cardtronics boosted its full year guidance, which helped send shares to all-time highs. The company raised its revenue target from a range of $735 million-$750 million to a new range of $755 million-$770 million. The bottom line is also predicted to be higher, in the ballpark of $1.58-$1.64 per share for the full year.
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