Shares of Euronet Worldwide (NASDAQ:EEFT) jumped as much as 12.1% in trading Friday after the company reported fourth-quarter results. Shares closed up 9.8% at the end of the day.
Revenue was up 7% in the quarter to $649.4 million, and net income more than doubled to $60 million, or $1.10 per share. Adjusted EPS, which pulls out one-time items, was up 21% to $1.37.
Analysts were expecting revenue of $664 million, so results fell short of that, but they only expected earnings of $1.28 per share. Beating expectations on the bottom line was enough to push the stock higher today.
AMT processing and money transfers were the highlights in the quarter, growing 10% and 15%, respectively. Transactions were up double digits in both segments, and show the expanding network of Euronet's business.
Beating earnings estimates is great, and that's what drove the stock higher today. But long term, it's growth that investors should have their eyes on, and there's a lot to like with ATMs and money transfers picking up momentum.