Western Union has reported a net income of $235.6m for the third quarter (Q3) ended 30 September 2017, an increase of 9% compared to $216.9m in the year ago period.

The company has generated a revenue of $1,404.7m during the reporting period, a growth of 2% compared to $1,377.8m in the corresponding year ago quarter.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The company’s Consumer -to-Consumer (C2C) unit revenues increased by 1% on both a reported and constant currency basis. Transactions were up by 2% riding on the growth in westernunion.com.

Westernunion.com C2C revenues increased by 23% on both a reported and constant currency basis, on transaction growth of 24%.

Western Union Business Solutions revenues raised 2%, or 1% on a constant currency basis.

Other revenues, which primarily consist of the US and Argentina bill payments businesses, increased by 9% in the quarter, or 13% on a constant currency basis, the company said in its earnings statement.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Commenting on the results, Western Union president and CEO Hikmet Ersek said: “We are pleased with the results for the quarter and the ongoing success of our digital initiatives. Westernunion.com money transfer delivered a 23% revenue increase in the quarter and represented 10% of our total consumer-to-consumer business.

“Westernunion.com is now in more than 40 countries that can deliver funds to over 200 countries and territories across the world. Overall, our business remains resilient as we continue to execute on our long term growth strategy for cross-border money movement.”