TransUnion - TRU STOCK NEWS

The Q1 2024 TransUnion Credit Industry Insights Report (CIIR) highlights resilience in the consumer credit market despite persistent high interest rates. Key findings include a growth of 20 million bankcards YoY, totaling 543 million. Average new bankcard account credit lines increased by 3.8% to $5,628. Unsecured personal loan balances grew 9% YoY to $245 billion, with a 5% increase in the number of consumers holding these loans. However, delinquencies have risen across several products, with a notable decrease in unsecured personal loan delinquencies. Mortgage originations were down 11% YoY, with high interest rates continuing to dampen the market. Auto loan originations remained stable with higher delinquencies. Despite challenges, the credit market remains resilient with hopes pinned on stable unemployment rates.

TransUnion's recent report reveals that over one-third of American consumers have faced fraud on gig economy platforms, marking a 21% increase since July 2023. Interestingly, while less than half of the respondents were concerned about fraud, 75% indicated they would abandon a platform if compromised. The study also highlights that Millennials are most frequently targeted, comprising 32% of single-time victims and 40% of repeated victims. Fraud types primarily include identity theft and payment fraud. Moreover, consumers expect gig platforms to enhance security measures, including biometric verification, to protect their data. The report also notes a decline in consumer spending on gig services, urging platforms to improve operational efficiencies for competitive pricing.

TransUnion's study reveals that Gen Z consumers are using credit more and differently than Millennials did at the same age. Gen Z faces challenges from the pandemic and inflation, leading to higher credit card and auto loan usage. The study found higher debt levels and delinquency rates among Gen Z borrowers compared to Millennials at the same age.

TransUnion (NYSE: TRU) has declared a cash dividend of $0.105 per share for the first quarter of 2024. The dividend will be payable on June 3, 2024, to shareholders of record on May 17, 2024.

TransUnion (TRU) will have Todd Cello, CFO, present at the 2024 Barclays Americas Select Franchise Conference on May 7. The webcast will be available on the Investor Relations website.

TransUnion's analysis reveals that U.S. consumers' median minimum monthly debt payments increased by 32% from 2020 to 2023, exceeding inflation rates. The study explores ways for government agencies to assist constituents facing rising debt obligations, highlighting disparities among different demographic groups. It identifies three core consumer groups - those experiencing hardship, feeling pinched, and expecting the worst - and offers recommendations for agencies to enhance outreach, service access, and program integrity.

TransUnion (TRU) exceeded first quarter 2024 financial guidance, achieving its first $1 billion revenue quarter. Revenue grew by 9%, driven by U.S. mortgage, International, and Emerging Verticals. Adjusted Net Income was $179 million, with a 11% increase in Adjusted EBITDA. The company raised its 2024 financial guidance to 5-6.5% revenue growth for the year.

GrowthLoop and TransUnion have joined forces to enhance advertising spend optimization by improving audience reach. The partnership aims to address low audience match rates in paid advertising, resulting in better return on ad spend. By combining GrowthLoop's audience layer with TransUnion's TruAudience® Marketing Solutions, marketers can now reach a higher percentage of their target audience, suppress current customers, optimize ABM strategies, provide a seamless cross-channel experience, and achieve business goals more effectively.

ID5, a leading identity provider for digital advertising, secures a $20 million Series B funding round, the largest in the identity space, showcasing confidence in its innovative approach. TransUnion and S4S Ventures join existing investors to support ID5's privacy-first advertising identity service, marking a strategic shift in investment trends amidst regulatory changes and cookie deprecation. ID5's technology, adopted globally, serves thousands of publishers, advertisers, and ad tech platforms, with almost 50% of online advertising transactions supported by ID5.