Strong Digital and Consumer Services Growth
Branded digital business saw transactions grow by 12% and adjusted revenue by 6%. Consumer Services adjusted revenue increased by 49% in the quarter, driven by the acquisition of Euro Change and a strong European travel quarter.
Successful Integration and Expansion Strategies
The acquisition of Intermex and Euro Change has been successful, with Euro Change performing above expectations, contributing significantly to Consumer Services growth. The company is expanding its digital wallet strategy, now live in 7 countries.
Operational Efficiency and Cost Management
Adjusted operating margins improved to 20% from 19% last year. The company completed its cost redeployment program 2 years ahead of schedule, leading to better-than-expected adjusted EPS of $0.47.
Positive Trends in Key Markets
Growth was noted in Europe, South America, and Asia, with the retail business in Europe seeing mid-single-digit transaction and revenue growth. The company also saw transaction growth in corridors like Brazil, India, Haiti, Panama, and Vietnam.