Western Union Reports Solid First Quarter Results
- Earnings Per Share of $0.25 -
- Reaffirms 2007 EPS Guidance of $1.07 - $1.11 -
- Consumer-to-Consumer Transactions Up 14% -
- International Consumer-to-Consumer Transactions up 21% -
ENGLEWOOD, Colo.--(www.AllPayNews.com)--The Western Union Company (NYSE: WU) today reported financial results for the first quarter.
Highlights for the first quarter include:
- Revenue of $1.1 billion, up 8%
- Earnings per share of $0.25
- Cash provided by operating activities, strong at $287 million
- Operating income margin of 27%
- Opened 300,000th agent location, finished quarter with more than 305,000 agent locations
Commenting on the quarter, President and CEO Christina Gold said, "We are pleased to have delivered solid EPS with strong cash flow this quarter. Our international consumer-to-consumer business, which accounts for more than 60% of total revenue, continued its strong performance. Our consumer-to-business segment posted solid 13% revenue growth, with an operating income margin exceeding 30%. Also during the quarter, we added key agents in both send and receive markets, implemented new pricing and foreign exchange strategies, and we connected with our consumers through media campaigns, sponsorships, and grassroots marketing initiatives.