Tomahawk, WI 7/26/2013 (Basicsmedia) – Xoom Corporation (NASDAQ:XOOM) is an online money transfer services provider and the company presented its 2Q2013 results on July 24, 2013. Revenues of Xoom surged 59% from the year ago quarter to $33.5 million in 2Q2013. Analysts had forecast revenues of $26.2 million. Gross profit of the company also jumped 72% to $23.4 million. The GAAP net income was $4.1 million for 2Q2013 or $0.11 in adjusted earnings per share (EPS), against a net loss that the company reported in 2Q2012, which was $1.6 million or $0.32 per share. The non-GAAP adjusted earnings for 2Q2013 were $0.14, compared to a loss of $0.20 EPS, in 2Q2012. Market was expecting Xoom to report a net loss of $0.07 per diluted share.

Xoom also provided guidance for 3Q2013 and FY2013. The company anticipates revenues between $27 and $28 million for 3Q2013 and between $115 and $117 million for FY2013. Xoom anticipates a GAAP net loss between $0.11 and $0.06 per share for 3Q2013 and a GAAP net loss between $0.08 and $0.01 for 3Q2013. The non-GAAP net loss for 3Q2013 is expected between $0.07 and $0.02 per diluted share and between $0.05 and $0.13 per share for FY2013. Consensus of analysts is a net loss of $0.06 per share for 3Q2013 and $0.18 per share for FY2013. Similarly, they have projected revenues of $26.7 million for 3Q2013 and $106.9 million for FY2013. The guidance by Xoom is quite stronger than market expectations.

The much better than anticipated results for 2Q2013 and the strong guidance for 3Q2013 and FY2013 helped the stock of Xoom surge forward by $4.00 or 14.87% to close at $30.90 on July 25, 2013. Xoom shares closed at $25.49 on February 15, 2013 after its initial public offering but dropped to $17.92 on May 22, 2013. However, the stock has been steadily climbing after that.

The San Francisco, California based digital money transfer services, established in 2001, allows users to transfer money in secure, cost-effective and secure manner from their computers, tablets or mobile phones. The more than 915,000 customers of Xoom sent over $4.3 billion to 30 countries in the 12 months ending June 30, 2013.

Xoom announced in May that it is establishing quick deposit services to India, enabling customers to send money within four hours to bank accounts in India, if the transfers are effected during banking hours in India. The company also appointed Amitabh Bachchan, the trusted icon, actor and superstar of Bollywood, the Hindi film industry of India, in late May as brand ambassador for this new four hour money transfer service to India.

Xoom followed up with another announcement of a novel app, named as Xoom Money Transfer App offering simple and fast methods of sending money. This ‘one swipe and ope tap’ app helps fast funds transfers. Further, the company also mentioned that it will be expanding its operations in Indian and Mexican communities for higher growth. For reaching the Mexican communities, Xoom appointed Eddie ‘Piolin’ Sotelo, the popular radio personality in Mexico as endorser of the company services in early May. Piolin has been starring in several TV and radio commercials, advocating speed, security and convenience of Xoom online money transfer services. It is time investors take notice the performance of this upstart company, considering the significant potential for Xoom on the subcontinent.

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