TransUnion - TRU STOCK NEWS

TransUnion (TRU) reported first-quarter 2023 revenue of $940 million, a 2% year-over-year increase, supported by strong international performance. Net income rose to $53 million, up from $48 million, with diluted EPS increasing to $0.27 from $0.25. However, adjusted net income decreased to $155 million from $179 million, and adjusted EBITDA dropped 4% to $322 million. The company prepaid $75 million in debt and maintains its full-year guidance despite economic uncertainties. U.S. Markets revenue increased 3%, while International revenue saw a 3% rise, with notable growth in India and Asia Pacific. The guidance for Q2 2023 projects revenue between $948 million and $958 million, with some headwinds from foreign exchange rates.

TransUnion (NYSE: TRU) has announced a partnership with Spring Labs and Quadrata to introduce off-chain credit scoring for DeFi and Web3 applications, enhancing lenders' ability to make informed credit decisions. This service will allow consumers to access their credit scores while maintaining privacy through blockchain technology. The partnership aims to increase lending opportunities for a broader range of consumers, addressing previous privacy concerns that limited access to credit data in the DeFi space. This innovation is timely as lenders seek to create more inclusive lending environments.

TransUnion's capability to score nearly the entire U.S. adult population, combined with Quadrata's digital passport, is expected to facilitate risk assessment in decentralized finance.

TransUnion (NYSE: TRU) has partnered with Frameplay, enhancing targeting capabilities for brands in the gaming sector. This collaboration utilizes TransUnion's TruAudience® Platform and Data Marketplace, providing insights into over 80 million U.S. connected homes. The newly launched Network Insights Summary Report reveals a balanced demographic among gamers, with an equal gender split, and highlights their spending tendencies across various categories, including Children’s Products and Electronics. Additionally, gamers in Frameplay's network exhibit a higher donation rate to causes compared to the average U.S. population. This partnership aims to help brands create more targeted and effective in-game advertising campaigns, fostering better connections with gaming communities.

TransUnion (NYSE: TRU) announced its partnership expansion with Datavant, leveraging insights from its acquisition of Neustar. This collaboration focuses on providing de-identified patient insights for HIPAA-compliant healthcare brands, enhancing customer engagement throughout the patient lifecycle. The integration allows healthcare companies to utilize demographic data available in TruAudience, improving outreach effectiveness.

Datavant’s software ensures patient privacy through advanced de-identification, enabling deeper data connectivity for healthcare organizations. This partnership aims to optimize approximately $18 billion earmarked for digital advertising in the U.S. healthcare and pharmaceutical markets in 2023.

TransUnion (NYSE: TRU), alongside Equifax and Experian, announced a significant change in credit reporting regarding medical collection debts. As of April 11, 2023, nearly 70% of medical collection tradelines recorded under $500 have been removed from U.S. consumer credit reports. This adjustment reflects a commitment made by the National Credit Reporting Agencies (NCRAs) to reduce the impact of medical debt on consumers’ credit scores. Previously, as of July 1, 2022, any medical collection debt that was fully paid was also excluded from reports, and the reporting period for unpaid debts extended from six months to one year. Additionally, the NCRAs are providing free weekly credit reports until the end of 2023 to help consumers manage their financial health.