Western Union Company (WU)

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.