Western Union: 2Q Earnings Snapshot
DENVER (AP) _ Western Union Co. (WU) on Thursday reported second-quarter earnings of $614.8 million.
The Denver-based company said it had profit of $1.42 per share. Earnings, adjusted for non-recurring gains, came to 45 cents per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The money transfer company posted revenue of $1.34 billion in the period, which met Street forecasts.
Western Union expects full-year earnings in the range of $1.70 to $1.80 per share.
Western Union shares have increased 24% since the beginning of the year, while the Standard & Poor’s 500 index has risen 18%. In the final minutes of trading on Thursday, shares hit $21.15, an increase of roughly 5% in the last 12 months.