Western Union: 1Q Earnings Snapshot
DENVER (AP) _ Western Union Co. (WU) on Tuesday reported first-quarter profit of $176.7 million.
On a per-share basis, the Denver-based company said it had net income of 42 cents. Earnings, adjusted for restructuring costs, came to 44 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The money transfer company posted revenue of $1.19 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $1.21 billion.
Western Union shares have dropped 28% since the beginning of the year, while the Standard & Poor’s 500 index has fallen 11%. In the final minutes of trading on Tuesday, shares hit $19.38, an increase of roughly 1% in the last 12 months.