Western Union Shares Rise After Company Tops Earnings View

Shares of Western Union Co. rose 5% late Thursday after the company reported second-quarter adjusted earnings above expectations and sales in line with forecasts. Western Union said it earned $166.5 million, or 35 cents a share, in the quarter, compared with $205.6 million, or 42 cents a share, in the year-ago period. Adjusted for one-time items, Western Union earned 50 cents a share, compared with 44 cents a share in the same period last year. Revenue was flat at $1.4 billion in the quarter. Analysts polled by FactSet had expected adjusted earnings of 45 cents a share on sales of $1.4 billion. Shares ended the regular session up 0.5%. The company also trimmed its full-year GAAP EPS outlook to a range of $1.46 to $1.56, from a previous guidance of between $1.48 a share and $1.60 a share, to account for legal matters.