Money transfers and payment services company Western Union Company (WU) in Englewood, Colo., is a global leader in international cross-border transfers and intra-country money movement. As a premier financial services provider, the company maintains strong operating cash flows and has strengthened its digital money transfer services significantly. Its Westernunion.com revenue rose 4% on a reported basis, driven by 7% cross-border revenue growth in the first quarter of 2022.
However, shares of WU have plummeted 8% in price over the past month and 2.7% year-to-date. This could be due primarily to the broader market hitting new lows last week and investors’ concern surrounding the fintech leader’s recent suspension of business in Russia and Belarus.
