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Tue, May 24 at 4:00PM ET

The Western Union Company (WU) Q4 Revenue $40M Above Expectations

The Western Union Company (NYSE:WU) reported solid fourth-quarter results after hours Tuesday.

The Western Union Company (WU)The bank operator announced revenue of $1.44 billion during the period, marking a 5% increase compared to the year-ago quarter, or 4% on a constant currency business. The figure was better than analysts’ expectations of $1.4 billion, according to Zacks Investment Research.

Western Union’s consumer money transfer business improved during the period, while the company also experienced strong growth in the bill payments businesses. The bank’s earnings were hit hard by the U.S. tax reform legislation, while a goodwill impairment charge related to the Business Solutions reporting unit also took a toll on the company.

GAAP earnings came in at a loss of $2.44 per share, compared to a loss of 73 cents per share in the year-ago period. Adjusted earnings excluding these charges were 41 cents per share, below the 47 cents per share it earned a year ago and missing the Wall Street consensus estimate of $1.44 per share, according to Zacks.

“Our consumer money transfer revenue growth accelerated in the fourth quarter, and our business continued to demonstrate resilience,” said president and CEO Hikmet Ersek. “Solid business performance was again led by our digital channel, as westernunion.com money transfer delivered a 22% revenue increase and represented 10% of our total consumer-to-consumer business in the quarter.”

WU stock was better late in the day, gaining 3.7% after the bell.

Article printed from InvestorPlace Media, https://investorplace.com/2018/02/western-union-company-wu/.

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