Boston, MA 07/29/2013 (wallstreetpr) – Xoom Corporation (NASDAQ:XOOM) the leading international money transfer service provider has recorded a huge hike in its revenues. Shares of the company have increased by 16 percent and the current stock price is at $31.31. In addition to this, the company has also increased its expected revenue for the fiscal year. Previously, the company had estimated earnings between $104 million to $106 million. However, it is reported that after the announcement of quarterly results, Xoom Corp (NASDAQ: XOOM) expects to earn revenues between $115 million to $106 million for the fiscal year.
The company earns its primary source of income through its transaction fee which is much cheaper than other money transfer providers such as Western Union (NYSE: WU). Though the revenues generated by Xoom Corp (NASDAQ: XOOM) are marginally lower than its competitor Western Union (NYSE: WU), the former has been performing consistently in the market. The competitive advantage of Xoom Corp (NASDAQ: XOOM) is its effective pricing which has helped the company to grab higher level of share in the market.
Xoom Corp (NASDAQ: XOOM) is also extending its market share in the European market. It has recently launched its new money transfer mobile app in Spanish.
Customers of Xoom Corp (NASDAQ: XOOM) can transfer money through their mobile as well. Xoom Corp (NASDAQ: XOOM) is expanding its business by providing effective service to its customers and also by charging low transaction fee. Customers can not only transfer money through this mobile app, they can use the app to track the status of their money transfer. This can be done with “a one tap and one swipe.”
In addition to introducing mobile apps, Xoom Corp (NASDAQ: XOOM) also provides 24 hour customer care services. The digital money transfer provider, had introduced its mobile app services for Android phones in June 2013. The mobile app also includes features were customers can review exchange rates, contact customer care and access links to XOOM’s services. Its user friendly applications is also a source of its rising revenues.
