Earnings release
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FOR IMMEDIATE RELEASE WesternUnion \\ WU Western Union Reports First Quarter Results Digital money transfer revenues on track to exceed $ 1 billion in 2021 ; first quarter revenue growth of 45 % WU.com delivers fourth consecutive quarter with growth of 50 % or more for transactions and more than 40 % for average monthly active users Total Company revenues grew 2 % to $ 1.2 billion ; Earnings Per Share ( EPS ) of $ 0.44 Reaffirms 2021 financial outlook for revenue and margin ; raises GAAP EPS to $ 2.06 - $ 2.16 DENVER , May 4 , 2021 : The Western Union Company ( NYSE : WU ) , a global leader in cross border , cross - currency money movement and payments , today reported first quarter financial results and updated its 2021 financial outlook , which includes a $ 0.06 increase in the GAAP EPS range primarily from the sale of an investment in the second quarter of 2021 . The Company's first quarter revenue of $ 1.2 billion increased 2 % on both a reported and constant currency basis compared to the prior year period , including a 1 % benefit from inflation in Argentina . The increase in revenue was led by strength in digital money transfer which grew 45 % to a new quarterly high of $ 242 million . EPS in the first quarter was $ 0.44 . GAAP EPS in the prior year period was $ 0.42 , which included costs related to the Company's restructuring program that was completed in the fourth quarter of 2020 , while adjusted EPS was $ 0.44 . EPS in the current period benefitted from revenue growth , a lower effective tax rate , and share repurchases , offset by increased investments in strategic initiatives and marketing and compensation - related expenses . President and CEO Hikmet Ersek said , " 2021 is an important year for Western Union and we got off to a healthy start led by the continued strong growth of our market - leading digital business that generated over $ 240 million of revenue in the first quarter , putting us on track to exceed $ 1 billion of digital revenue this year . While additional waves of COVID - 19 continue to affect 1