with everyone. offer of the comments My our afternoon, start our the will of second thoughts today then and I'll business, quarter remainder you, for expectations and on performance the Thank some year. Hikmet, good
the second As the challenging Hikmet business discussed faced we quarter. environment in earlier,
just expected to business So in cross-border faster and see transaction principal ago, consumer a months by strong our encouraged we positive accentuated improvement growth and June than few in July. very we growth are
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by decline. to and our constant transactions which capabilities cross border more with continue approximately XX%. pricing Westernunion.com’s increased with long-term. strategy, transactions We pricing grew dynamic revenue customers, focuses domestic revenue drive partially Westernunion.com or XX%, offset XX% on revenue drive up forward over to XX% the currency agile continued
Our digital digital momentum in gain continued quarter up partnership transactions in as white business our to label ramped the business.
transfer more reported on sequentially trends revenue basis. to decline the currency outbound will Turning a strengthen basis basis continuing in benefiting from into June to and weigh declined Revenue money results, of Low's declines. with and transaction a than over it's continued partnership. now Sberbank results. improve trends digital, X% was in the U.S. X% to growth growth and but July. X%, the month transactions decreased most offset reported offset and company transfer on in a the less X% currency. both the money Europe quarter. by on or drive XX% Strong North domestic meaningful only has April digital total and largely constant results, each throughout X% by Transaction was be domestic revenue to X% geographies revenue CIS improve due declines from revenues And likely and America, channels region U.S. grew regional steadily constant in in time. on Russia to retail
countries, basis the net or constant declines declined XX% encouraged However, in strong Revenue in countries. that stability it policy see improved were we a the currency social it responses Saudi with related due a maintain help or is including important Revenue constant XX% the region in are education, East, trends and decline result to X%. COVID-XX slowed experienced declines reported and and basis between total Other currency on seems South revenue attributable an may travel acquisition. in the policy quarter. lag were and decreased transaction anticipate transactions quarter. trends even in Telecom. constant X% the in grew represented reported along onset a region of of than quarter, later revenue this is The Revenue Latin money was and were countries. driven in currency to largely should the benefiting retail Caribbean Argentina depreciation the and primarily safety due smaller including transaction Switzerland retail represented constant on the We strong softening quarter. many Other Indeed, with or region which spread which Argentine the impact recovery payment tourism of Arabia, restrictive UAE responses revenue Germany transactions company to Declines countries, on the declined have and exposure transaction revenues throughout in more both region that peso. pre-COVID, decreased to The are Revenue trends in XX%. service or XX% quarter. revenues as XX% market, declined America, Asia and currency Europe Australia, better of small and of U.S., verticals in many The safety to in On note, transaction bill enterprises. from the XX% transaction to partnership and of for softening many our and Business a Middle retail. XXXX the decreased revenues divestitures, growth on both and due in strong with on revenues of than solutions net more Africa, XX% as some consists as company X% to including growth the industry was a trends owners. had XX% positive Saudi reported government COVID-XX XX% of restrictive and basis XX%. declines government APAC COVID-XX, medium-sized of XX% region by customer social a in well that
quarter, allocation margins to and are implemented expense changes I profitability. period and of XX.X% divestitures as margins productivity with by year additional primarily year savings the partially compared segment first prior operating prior quarter declines increase the was XXXX. margins, XXXX and on the due associated GAAP to offset on and due to XX.X% Turning in COVID-XX the not Consolidated to margin with period, will revenue the the focus divestitures. consolidated management cost was comparable the in measures
as delaying $X certain expenses quarter related and reflects hiring, quarter such and actions, our program. and We specific reprioritizing cost Additional million the travel, in in both productivity of restructuring the incurred expenses realized to the investments. timing savings second related limiting of
Adjusted year and in quarter compared the period XX.X% we factor with same $XXX million XX.X% was in the expenses related We the margin total restructuring second to restructuring driven $XXX continue for date, have incurred of and prior stated by adjusted million. expansion to previously in to operating M&A expect approximately costs.
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was Turning sheet. cash flow the cash we balance from cash Year-to-date of had $X.X expenditures end operating were and of $XXX the activities billion. Capital quarter and At million. our debt $XX the quarter, $X.X in of approximately million. flow billion to
remaining in we million strongest $XX position the the million an XXXX. maturities undrawn the nearly Our dividends until $X.X revolving in financial and credit no We is returned industry, among debt significant in facility to have second shareholders XXXX. which quarter. XXX at count The was expires under had was share authorization, share our And we end the and shares, million program December in on quarter repurchase million repurchase share parts. outstanding $XXX
our updates. to moving business Now XXXX
it consider a inform half think an mentioned, the improvement the at of for be time, prevailing provide variety half business. on we'll outlook reasonable perspective of instead providing We a not the will We some economic baseline we our to and generation. how XXXX this As over forecast the but revenue Hikmet year. outlook of will second of is macro environment for understanding gradual the impact second
variation grow white digital the related However, we the label in second of half business over some taken in and anticipate quarterly XXXX. to pricing actions strategic
Additionally, certain be geographies. recovery we in that linear may not recognized
segment, For we will our down for CXC be market year. the remittance overall expect the
However, the total pessimists. World in too quarter cross Bank’s calls current quarter XX% a appears which for principle XXXX forecast, decline
gaining X% market. and the half total basis June in and the year, on currency the of constant share we think in trends, principle XX% on grew over cross-border first grew we're these in Based Our July. a
Lastly, for consider of improvement for our second trade year. the forecast projections calls our prevailing gradual and Business the in Solution view segment, we in global the half
can Moving we to second believe year, despite margins softer the margins, that of we deliver half solid in revenue the trends.
we As last our costs XX% mentioned are of XX% XX% structure cost to are a have flexible variable and quarter, we XX% to fixed.
track still on more cost recent at realize XXXX, $XX in and Additionally, timing may reach shifts least we are in initiatives on savings to and based of million investments. in
XXXX. through target of to continue appropriately will manage revenue savings annual We environment. $XXX we across Furthermore, million with cost the
in marketing of we’ve the the increase from growing business second opportunity. If the For digital first potentially example, trends improve, in increased investment the continue back quarter to year. could half investments the to westernunion.com to address quarter
we it today these Finally, we in environment. backdrop the right Thank our be the questions. you digital values in we To of focused joining this drive XXXX. for and expect both now adjusted wins, positive the the on July. and ready strategy given pleased performance which and We Moreover, range long-term quarter last a the results very margins with to indicates are to laid as think stakeholders. probably belief we solid major GAAP June, our exceptional challenging for are year transaction and durable we for our rates path into for see growth tax mid-teens the Delivering effective current continued business us the it outperforming the operator, quarter to we in the call all take and has confirms this out are digitally competition. recap,
