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10.85
0.23%
0.0125
After Hours:
10.90
0.0475
+0.44%
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Why is Western Union Company (WU) Stock down?
We've noticed a 8.33% decline in Western Union Company (WU) stock during the 2024-07-31 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
26 Oct, 2023:
Western Union (WU) dropped by 9.74% from $12.93 to $11.67 in the trading on Thursday October 26, 2023. The reason why WU stock down today is due to its third-quarter results. While the headline numbers were better than expected and its guidance improved modestly, investors still seemed to be disappointed that its turnaround isn't moving faster.
- Revenue rose 1% in the third quarter, or 7% on an adjusted basis, reaching $1.1 billion, which compared to the analyst consensus of $1.03 billion.
- Adjusted operating margin in the period fell from 20.6% to 19.6% as the company invests in its turnaround strategy called "Evolve 2025."
- Competition: While the results were solid, revenue slowed from the second quarter, and investors seem to fear that Western Union is falling behind faster-growing competitors like Remitly.
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