Total revenues for the fourth quarter of 2010 were $1.35bn, compared to $1.31bn in the corresponding quarter of 2009.
Revenue growth in US domestic money transfer of 7% on a 29% increase in transactions in the fourth quarter of 2010. The agent locations of the Western Union reached to 445,000 across the globe.
Net income for the year 2010 was $ 909m, an increase of 7% from $848m reported in in the year 2009. Total revenues were $5.19bn for the year 2010, an increase of 2% from $5.08bn from the corresponding year.
Western Union president and CEO Hikmet Ersek said the company had a strong finish to 2010. The consumer-to-consumer revenue trends accelerated, including the expected turnaround in US domestic money transfer.
"For the year, we generated $1bn in cash flow from operations, and returned $750m to shareholders through stock repurchase and dividends. We also made progress on our key strategic priorities of growing retail channels, expanding electronic channels, developing our product portfolio, and improving processes and productivity," Ersek said.
