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Tuesday, October 25, 2011

Western Union Q3 beats on strong consumer transactions, (NYSE: WU)

The world's largest payment transfer company Western Union Co posted a quarterly profit that beat market expectations, helped by a strong performance at its core consumer-to-consumer segment.The company expects to earn between $1.55 and $1.58 for the full year, excluding items. Revenue on a constant currency basis is seen growing 4-5 percent.For the third-quarter, the company reported a net income of $239.7 million, or 38 cents a share, compared with $238.4 million, or 36 cents a share, last year.Excluding restructuring expenses, Western Union earned 40 cents a share.

The Western Union Company (Western Union) is engaged in money movement and payment services. Shares of WU fell by 2.9% or $-0.51/share to $17.07. In the past year, the shares have traded as low as $15.00 and as high as $22.03. On average, 7442100 shares of WU exchange hands on a given day and today's volume is recorded at 6286046.



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