Why Euronet Worldwide Stock Sank Today
Shares of Euronet Worldwide (NASDAQ: EEFT) fell as much as 10% on Wednesday, following the release of its second-quarter financial results. Shares were down 6% as of 2:35 p.m. EDT.
Euronet's revenue rose 11% year over year to $691.9 million, matching Wall Street's expectations.
Notably, the number of transactions conducted on Euronet's network increased by 19%, to 1.15 billion. "Our efforts to expand our network, state-of-the-art technology and broad product portfolio continue to result in strong double-digit earnings growth," chairman and CEO Michael J. Brown said in a press release.
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