DENVER (AP) — DENVER (AP) — Western Union Co. (WU) on Monday reported second-quarter profit of $122.1 million.
On a per-share basis, the Denver-based company said it had net income of 37 cents. Earnings, adjusted for non-recurring costs and severance costs, were 42 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The money transfer company posted revenue of $1.03 billion in the period, which also missed Street forecasts. Six analysts surveyed by Zacks expected $1.04 billion.
Western Union expects full-year earnings in the range of $1.65 to $1.75 per share, with revenue in the range of $4.04 billion to $4.14 billion.
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