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Western Union Q1 Revenues Up

Western Union Company has posted total revenues of $1.23bn for the first quarter ended March 31, 2010, up 3% compared to $1.20bn in the corresponding quarter of 2010.

Western Union posted a net income of $207.9m, or $0.3 per diluted share, for the first quarter of 2010, compared to $223.9m, or $0.32 per diluted share, for the first quarter of 2009.

GAAP operating income margin for the first quarter of 201 was 26%, compared to 28% in the same quarter of 2009.

Christina Gold, president and CEO of Western Union, said: “We are pleased with our global performance as we begin 2010. Our Americas business is gaining momentum with strong transaction growth in domestic money transfer, improving trends in Mexico, and stronger growth in US Outbound.

“Europe and Asia also remained strong. Although there are still challenges in some parts of the world, we are experiencing improving trends in many markets and believe we continue to gain market share. In addition, we made further progress in strategic areas such as prepaid cards and business-to-business payments.”