Ebix Reports Q2 2017 Results

Ebix (NASDAQ:EBIX) has reported its Q2 results for the quarter ended June 30, 2017.
As quoted in the press release:

Revenues: Q2 2017 revenue rose 20.4% to $87.4 million compared to $72.6 million in Q2 2016 and increased 10.5% over Q1 2017 revenue of $79.1 million. The revenue improvement reflected growth in the Company’s Exchange and Risk Compliance channels, with the revenues from the acquisition of ItzCash reflected in the Exchange channel.
On a constant currency basis, Ebix Q2 2017 revenue increased 20% to $87.1 million compared to $72.6 million in Q2 2016. The Exchange channel continued to be Ebix’s largest, accounting for 69% of Q2 2017 revenues. Also, on a constant currency basis, year to date revenue increased 15% to $165.5 million as compared to $143.6 million during the same period in 2016.

(dollar amounts in thousands)
Channel	Q2 2017		Q2 2016		Change	YTD 2017		YTD 2016		Change
Exchanges	$	60,373	$	49,322	+22%	$	112,987	$	99,408	+14%
Risk Compliance Solutions (RCS)	22,663	18,662	+21%	44,515	35,413	+26%
Broker Solutions	3,595	3,885	-7%	7,383	7,097	4%
Carrier Systems	756	705	+7%	1,605	1,722	-7%
Total Revenue	$	87,387	$	72,574	+20%	$	166,490	$	143,640	+16%
Total Revenue on Constant Currency Basis	$	87.1M	$	72.6M	+20%	$	165.5M	$	143.6M	+15%

Earnings per Share: Q2 2017 diluted earnings per share increased 6% to $0.74 compared to $0.70 in Q2 2016 due to higher net income and the benefit of ongoing share repurchase activity. Ebix’s weighted average diluted shares outstanding decreased to 31.6 million in Q2 2017 compared to 33.0 million in Q2 2016 and 32.0 million in Q1 2017.

Click here to read the full press release.