The Western Union Company Earnings: Positive Earnings Streak Continues
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The Western Union Company Earnings Cheat Sheet for the First Quarter
Results: Net income for The Western Union Company rose to $247.3 million (40 cents per share) vs. $210.2 million (32 cents per share) in the same quarter a year earlier. This marks a rise of 17.6% from the year-earlier quarter.
Revenue: Rose 8.6% to $1.39 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: The company fell in line with the mean estimate of 40 cents per share. Analysts were expecting revenue of $1.37 billion.
Quoting Management: Western Union President and Chief Executive Officer Hikmet Ersek commented, “Overall, we started off the year in line with our outlook. Our Consumer-to-Consumer segment growth accelerated compared to the fourth quarter, as strength in North America and the Middle East and Africa offset some expected softness in the Europe and CIS region. We further expanded our global network, including increasing our U.S. banking and European retail presence, and in April we reached 500,000 Agent locations across the world.”
The company has now seen its net income rise for three quarters in a row. In the fourth quarter of the last fiscal year, net income rose 86.4% and in the third quarter of the last fiscal year, the figure rose 0.5%.
The company fell short of estimates last quarter after being in line with expectations the quarter before with net income of 40 cents.
Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the second quarter is 43 cents per share, down from 44 cents ninety days ago. For the fiscal year, the average estimate has moved down from $1.81 a share to $1.74 over the last ninety days.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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