Western Union (WU) reported third quarter (3Q/15) revenues, on a currency adjusted basis (FX), increased 3% year-on-year (YOY). Net income declined 0.8% YOY to $232.2 million.
WU revenues FX for 3Q/15 were $1485 million, compared to $1468 million in the prior quarter and $1476 million in the year ago quarter.
In 3Q/15 Consumer-to-Consumer (C2C) revenues FX of $1180 million, increased 3% YOY. Westernunion.com C2C revenue increased 22%, or 28% FX on transaction growth of 25%. Electronic channels revenue, which includes westernunion.com, account based money transfer through banks, and mobile money transfer, increased 19% in the quarter and represented 7% of total Company revenues.
Consumer-to-Business (C2B) revenues FX of $165.7 million grew 10% in the quarter driven by the Argentina walk-in and the U.S. electronic bill payments businesses.
Western Union Business Solutions 3Q/15 revenues FX of $112.1 million increased 6% YOY. Growth was driven by Europe and led by strong sales of hedging instruments.
Western Union C2C Transactions
3Q/14 65.31 million
4Q/14 65.42 million
1Q/15 61.75 million
2Q/15 65.76 million
3Q/15 66.55 million
Source: Western Union
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