Why MoneyGram International Sank by Over 9% Today
MoneyGram International's (NASDAQ: MGI) Q3 results -- announced after market close on Thursday -- weren't necessarily disastrous. Nevertheless, investors did not greet them warmly and sent the financial services company's shares down by more than 9% the following day.
The quarter was a mixed one for MoneyGram. It saw the company book $319.6 million in revenue, which was down by 1% on a year-over-year basis. The decline would have been steeper had it not been for a significant (35%) rise in revenue derived from online, cross-border transactions across that stretch of time.
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Source Fool.com
