Western Union Q1 Profit Falls

Western Union

released its fiscal first-quarter earnings results after the closing bell on Tuesday afternoon. In late trading, the company's share price was unchanged. Western Union topped Wall Street earnings estimates, but missed sales expectations. The company reported a profit of $212.0 million or $0.37 per share, compared to $247.3 million or $0.40 per share, in last year's corresponding quarter. This easily exceeded analysts' consensus EPS estimates of $0.32. Revenue fell 5 percent in the quarter to $1.33 billion from $1.39 billion last year. This missed consensus sales estimates of $1.35 billion. Western Union also backed its fiscal year 2013 view. The company continues to expect earnings per share between $1.33 to $1.43. This compares to current consensus EPS estimates for the full-year of $1.40. Revenue is expected to be $5.56 billion in fiscal 2013 according to Wall Street estimates.