Ripple backed Moneygram releases it earning report in Q3

[Jating]

If you guys remember, Ripple acquired a $30 million stakes in MoneyGram last July so it's interesting how everything turns out.

Moneygram was the first money transfer company to "utilize blockchain capabilities at scale through our Ripple strategic partnership."

Net loss was $7.7 million compared to $20.9 million for the third quarter of 2018.

http://ir.moneygram.com/node/20546/pdf

So it's interesting to note that there was a net loss of $7.7 million when they formed a joint venture with Ripple. But I think it's early to conclude, this is just quarter report and data is still fairly early to say that it has a negative effect on MoneyGram itself.

[el kaka22]

If they could actually get a bit of money by selling some of their shares and close their debts they could actually start profiting.

This is a company that does money transactions in its nature, looking at how they made 324 million (13 was investment so 311 is more realistic) and only spent 165 million on transactions compared to 180 from previous year, plus dropping most of their expenses significantly, they are only 7 million down but with 25 million interest expense they are not making any money at all due to interest.

Yeah, they could try to sell some part of their company but that is not solving the problem at its core, it is actually removing all the debt and making the company profitable for its current stage, maybe they will want to go bigger at which case they will have some more debts to go bigger. All in all they need a ton of money and investment.

[Febo]

So it's interesting to note that there was a net loss of $7.7 million when they formed a joint venture with Ripple. But I think it's early to conclude, this is just quarter report and data is still fairly early to say that it has a negative effect on MoneyGram itself.

Yup. Ripple will bail out bankers and buy all banks which Bitcoin is making useless.   Maybe eventually Ripple will buy Federal reserves. And own useless fiat printing machine.

[BigBoy89]

I read the report and it's dry, full up numbers.

Here: https://dailyhodl.com/2019/11/01/moneygram-ceo-reveals-expansion-strategy-with-ripple-and-xrp-earnings-call-report/
you can find what they plan for Q4. While currently on loss, in long turn it seems like a really good idea to cut their costs (and hopefully taxes).