UPDATE 1-MoneyGram reports wider-than expected Q2 loss
* Q2 loss/shr $0.31 vs est loss/shr $0.28
* Q2 rev fell 3 pct to $283.6 mln
* Says Q2 had $1.9 mln costs related to restructuring
* Sees $45 mln-$50 mln future restructuring costs
July 30 (Reuters) - Payment services company MoneyGram International Inc (MGI.N) posted a wider-than-expected quarterly loss, hurt partly by lower investment revenue and restructuring charges.
The company said it incurred $1.9 million in costs related to restructuring and reorganization activities during the second quarter, and expects future realignment expenses to range between $45 million and $50 million.
For the second quarter, net loss available to common shareholders was $25.8 million, or 31 cents a share, compared with a loss of $33 million, or 40 cents a share, last year.
Total rev was $283.6 million, down 3 percent from last year.
Analysts on average were looking for a loss of 28 cents a share, before items, on revenue of $299.2 million, according to Thomson Reuters I/B/E/S.
Shares of the company closed at $2.66 Thursday on the New York Stock Exchange. (Reporting by Brenton Cordeiro in Bangalore; Editing by Jarshad Kakkrakandy)
- Malaysia jet sent 'pings' after going missing, sources say |
- Russia holds war games near Ukraine; Merkel warns of catastrophe |
- New York City gas explosion subject of federal probe |
- White House tried to mediate dispute between Senate, CIA panel: source
- Missing jet may have strayed to west, Malaysia military says |