Euronet Worldwide reported consolidated revenue of $1,100.0 million for the third quarter of 2024, marking a 9.5% increase over the same period in 2023. Adjusted diluted earnings per share (EPS) rose by 11% year-over-year to $3.03. Consolidated operating income also saw a significant 17% increase, reaching $151.5 million.
The company's EFT Processing segment experienced a 7% revenue growth to $232.5 million, with operating income up 8% to $23.3 million, driven by travel and merchant services expansion. The epay segment achieved double-digit revenue and transaction growth, though operating income growth was impacted by inflationary pressures and expenses for new proprietary product offerings. Money Transfer delivered strong results with near double-digit cross-border transaction growth and a 30% increase in direct-to-consumer digital transactions.
Euronet reaffirmed its expectation for 2024 adjusted EPS growth of 10-15% year-over-year and anticipates similar growth in the 10-15% range for 2025. The company also repurchased 1 million shares for $101.3 million during the quarter, aiming to improve future earnings per share by 2%.
Unrestricted cash and cash equivalents on hand stood at $1,524.1 million as of September 30, 2024. The increase in active ATMs included the acquisition of 800 ATMs in Malaysia and the addition of approximately 800 outsourcing ATMs, contributing to the EFT segment's performance.
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