Western Union (WU) provides money transfers and payment services worldwide. The Englewood, CO company achieved better-than-expected earnings and sales relative to wall street analysts’ estimates.
Earnings: Increased 31.7% to $238.4 million, or $0.36 per share, from a gain of $181 million, or $.26 per share, y-o-y.
Revenue: Increased 1% to $1.33 billion.
Actual versus Wall Street Expectations: Western Union slightly beat to the upside as analysts expected a profit of $0.35 per share. Revenues topped the $1.31 billion expected (Thomson Reuters).
Notable Stats: Global consumer-to-consumer transactions grew 10%.
U.S. domestic money transfers saw 35% domestic transaction growth.
Growth in agent locations to approximately 435,000.
Did You Hear That? Western Union President and Chief Executive Officer Hikmet Ersek said, “In the quarter, all of our regions contributed to the consumer-to-consumer transaction growth, and margins were strong. We now expect full year earnings per share to be higher than our previous outlook, even with increased marketing and other investments in the fourth quarter to propel future growth.”
Official Company Earnings Release: Read all the details here.
Commentary: Shares of Western Union are trading above their 200 DMA and 50 DMA. As the chart below indicates, the stock is breaking out to the upside since late August. Following the third quarter earnings release after-the-bell, Western Union shares are trading up 1.62%.
Disclosure: No positions.