Revenues of $1.39 billion in 3Q15
On October 29, 2015, Western Union (WU) released its 3Q15 results and reported revenues of $1.39 billion, a 3% YoY (year-over-year) fall compared to $1.44 billion in 3Q14. Operating income fell 3% YoY as well, from $314.1 million in 3Q14 to $304.5 million in 3Q15. Net income fell 1% YoY from $234.1 million in 3Q14 with diluted EPS (earnings per share) of $0.44, compared to net income of $232.3 million in 3Q15 with an EPS rise of 2%, to $0.45.
“We delivered another good quarter and are on track with our expectations, as the business remained resilient despite geopolitical and global economic challenges,” said president and chief executive officer of Western Union, Hikmet Ersek. “US outbound money transfer provided solid 3Q results and our westernunion.com online transaction sites, which are now activated in 33 countries, once again produced strong growth.”
Factors affecting revenues of Western Union
Volatility in foreign exchange due to a broad international exposure has impacted revenues of Western Union. Weakness arising from the European debt crisis has also negatively impacted the firm’s remittance segment.
Analysts estimated revenues of the firm to be $1.41 billion. In 3Q14, Western Union reported an earnings surprise of over 5%–reported earnings were 5% above estimates–and the firm has beaten estimates in the last four quarters prior to 3Q15.