Western Union's stock soared 5.46% in pre-market trading on Wednesday, following the company's fourth-quarter 2024 earnings report which showed continued momentum in its digital and consumer services segments.
The money transfer giant reported strong results, with adjusted revenue growth of 1.4% excluding Iraq, marking the third consecutive quarter of positive growth. This was driven by a 23% increase in the consumer services segment and an 8% rise in branded digital revenue.
Western Union's efforts to accelerate its digital transformation and diversify into new offerings like media network and foreign exchange services are paying off. The company's branded digital business saw a 13% increase in transactions, while the consumer services segment benefited from robust demand for retail money orders and growth in its media network and foreign exchange businesses.
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