MoneyGram International, Inc. MGI reported third-quarter 2021 adjusted earnings per share of 13 cents, which beat the Zacks Consensus Estimate by 62.5%. Earnings were down 18.8% year over year.Year over year, earnings declined due to lower revenues and a rise in operating expenses.MoneyGram International Inc. Price, Consensus and EPS Surprise MoneyGram International Inc. price-consensus-eps-surprise-chart | MoneyGram International Inc. QuoteQuarterly Operational UpdateRevenues of $319.6 million were down 1.1% year over year due to lower fee and other revenues. It also missed the Zacks Consensus Estimate by 3.24%.Total operating expenses of $122.3 million increased 9% year over year, primarily due to higher transaction and operations support cost.Interest expense dropped 43.5% year over year to $13 million in the quarter under review.Adjusted EBITDA of $56.5 million fell 17.9% year over year due to $33.6 million of loss incurred on early extinguishment of debt.Adjusted EBITDA margin contracted 360 basis points (bps) year over year to 17.7%Segments in DetailGlobal Funds TransferThe segment reported total revenues of $306 million, which declined 0.8% year over year, induced by a 2% dip in Money Transfer revenues. The Money Transfer business of MoneyGram continued to perform well in the quarter, attributable to a 34% surge in revenues of its direct-to-consumer digital business MoneyGram Online (MGO). Digital revenues climbed 28% year over year and attained a record figure of $70 million.MoneyGram has been investing heavily in the digital platform for a while and so has been another player in the same industry, which is Western Union Co. WU.Financial Paper ProductsTotal revenues declined 6.8% year over year to $13.6 million. While money order revenues of $10 million dipped 4% year over year, official check revenues declined 14.3% year over year to $3.6 million.Liquidity Position (as of Sep 30, 2021)Cash and cash equivalents were $117 million, down 40.3% from the level at 2020 end.The company’s payment service obligation as of Sep 30, 2021 was $3.6 billion. The figure declined 2.6% from the level as of Dec 31, 2020.The company generated adjusted free cash flow of $33.5 million in the third quarter, which increased 32% year over year.Capital expenditures were $10.2 million, reflecting a decrease of $0.5 million from the third-quarter 2020 level.Q421 GuidanceTotal revenues are estimated to be $325 million on the back of robust digital growth and more than 30% for MGO.The company estimates adjusted EBITDA to be nearly $60 million. It does not include any benefit from Ripple incentive fees.Zacks RankMoneyGram currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks hereOther Finance Sector ReleasesAmong other players in the finance space, which have reported third-quarter earnings so far, the bottom-line results of American Express Company AXP and Synchrony Financial SYF surpassed estimates by 27.53% and 12.08% respectively. Tech IPOs With Massive Profit Potential: Last years top IPOs surged as much as 299% within the first two months. With record amounts of cash flooding into IPOs and a record-setting stock market, this year could be even more lucrative. See Zacks’ Hottest Tech IPOs Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MoneyGram International Inc. (MGI): Free Stock Analysis Report American Express Company (AXP): Free Stock Analysis Report The Western Union Company (WU): Free Stock Analysis Report Synchrony Financial (SYF): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research