DALLAS, July 30, 2020 /PRNewswire/ — MoneyGram International, Inc. (NASDAQ: MGI) today reported financial results for its second quarter ending June 30, 2020.
Second Quarter 2020 Business Highlights
“We had a very strong quarter and materially outperformed on both the top and bottom-line, despite the continued global uncertainty from the COVID-19 pandemic,” said Alex Holmes, MoneyGram Chairman and CEO. “In June we returned to year-over-year revenue growth on strong money transfer transaction growth of 10%. This return to growth was driven by the rapid expansion of our digital business as well as the continued improvement of our walk-in business. Additionally, the resurgence of growth from the money transfer business, along with agile management of the business throughout the crisis enabled us to deliver year-over-year Operating Income and Adjusted EBITDA growth for the quarter.”
Holmes added: “We’re excited about the underlying momentum in our business driven by our