Western Union has earnings wired


Western Union has earnings wired

Filed under: Earnings reports, Good news, Bad news, Press releases, India, China, Mexico, Western Union (WU)Venerable money transfer firm Western Union Company (NYSE: WU) posted positive earnings overall on April 24, despite a 6% decline in volume for domestic transactions due primarily to the slowdown in the construction industry. Fewer jobs for Hispanics, who form the majority of construction workers, means fewer wire transfers of fewer dollars back home. Also, tighter documentation requirements for wiring money, coupled with increased immigration law enforcement caused a softening of domestic earnings by $20-$30 million. In order to counteract these effects, Western Union has reduced some fees for utilizing its online distribution network, www.westernunion.com.Despite this, Western Union still posted solid revenue growth numbers. Revenue was up 8% to $1.1 billion. Diluted EPS ...

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