Western Union Has Losses in 2nd Quarter, Six Months
Financially ailing Western Union Corp., which has not paid a dividend on its preferred or common stock in three quarters, reported net losses of $9.7 million for the second quarter and $25 million for the first half of 1985.
The figures compare to a $5.3-million net gain in the second quarter of 1984 and profit of $19.4 million in the first half of last year. Western Union reported a net loss of $58.4 million for all of 1984.
Market analysts have blamed the 126-year-old corporation’s troubles on a fast-changing telecommunications industry, poor management and the high costs of its electronic mail service, Easy Link.
Western Union reported revenue of $279 million in the second quarter and $563 million in the first half of 1985.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
