Western Union: 3Q Earnings Snapshot
DENVER (AP) _ Western Union Co. (WU) on Thursday reported third-quarter profit of $228.6 million.
The Denver-based company said it had net income of 55 cents per share. Earnings, adjusted for restructuring costs and costs related to mergers and acquisitions, came to 57 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The money transfer company posted revenue of $1.26 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $1.25 billion.
Western Union expects full-year earnings in the range of $1.80 to $1.85 per share.
Western Union shares have dropped 22% since the beginning of the year, while the Standard & Poor’s 500 index has increased 2.5%. In the final minutes of trading on Thursday, shares hit $20.90, a fall of 17% in the last 12 months.