Western Union reported Consumer-to-Consumer (C2C) constant currency third quarter revenues increased 3%, while reported revenues declined 3%. Consumer-to-Business (C2B) revenues grew 6% in the quarter, or 10% constant currency, driven by the Argentina walk-in and the U.S. electronic bill payments businesses.
C2C transactions increased 2% in the quarter. C2C constant currency revenue growth was driven by westernunion.com and the U.S. outbound business. Westernunion.com C2C revenue increased 22%, or 28% constant currency, on transaction growth of 25%. Electronic channels revenue, which includes westernunion.com, account based money transfer through banks, and mobile money transfer, represented 7% of total Company revenues.
Western Union Business Solutions revenues decreased 4%, or increased 6% on a constant currency basis. Constant currency growth was driven by Europe and Australia, and aided by strong sales of hedging products.
The Company affirmed its full year outlook for 2015 provided on July 30, 2015: Revenue: Low to mid-single digit constant currency revenue increase; Low to mid-single digit GAAP revenue decrease; Operating Profit Margin – adjusted operating margin of approximately 21% and GAAP operating margin of approximately 20%.
3Q/14: $234.1 million
4Q/14: $221.5 million
1Q/15: $203.9 million
2Q/15: $213.5 million
3Q/15: $282.3 million
Source: Western Union; CardData
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