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Jul 22, 2008 8:15 am US/Mountain

Western Union 2Q Profit Up 13 percent, Lifts View

ENGLEWOOD, Colo. (AP) ― Money transfer services provider Western Union says international growth helped drive second-quarter profit up 13 percent, and has raised its earnings outlook for the full year.

Englewood, Colo.-based Western Union Co. says net income rose to $231.5 million, or 31 cents per share, from $204.5 million, or 26 cents per share, a year ago. Excluding restructuring charges, the company earned 33 cents per share in the latest period.

Revenue jumped 12 percent to $1.35 billion from $1.20 billion, helped by international growth and improving results in its U.S. and Mexico business.

Analysts surveyed by Thomson Financial expected adjusted profit of 31 cents per share on revenue of $1.33 billion.

Western Union also raised its outlook for 2008 adjusted earnings per share to a range of $1.29 to $1.33, compared with Wall Street's average $1.28 per share estimate.

(© 2008 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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