(RTTNews) - MoneyGram International Inc. (MGI) reported that its fourth-quarter net loss narrowed to $11.9 million or $0.16 per share from $12.5 million or $0.19 per share last year.
Adjusted income per share was $0.01, flat with last year.
Revenue was $323.7 million, a decline of 6% from the fourth quarter 2018. Revenue excludes $8.9 million of benefit from Ripple, which will be accounted for as a contra expense rather than revenue based on a recent consultation with the Securities and Exchange Commission.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share and revenues of $329.15 million. Analysts' estimates typically exclude special items.
For the first quarter 2020, the company anticipates total revenue of approximately $300 million, and adjusted EBITDA of approximately $50 million, both on a constant currency basis. Analysts expect revenue of $304.33 million for the quarter.
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