Western Union Posts Q1 Results Just About In-Line, Reaffirms

April 26, 2011

Western Union (NYSE:WU) reported Q1 EPS of $0.35 ex-items, just edging the consensus estimate for $0.34 per share. Revenue for the quarter was up 4% year-over-year to $1.28 billion, in-line with the consensus estimate.Western Union President and Chief Executive Officer Hikmet Ersek said, "The first quarter results demonstrate the benefits of our diversified business, with presence in more than 200 countries and territories. Strong revenue growth in Asia Pacific and solid increases in the Americas and much of Europe helped deliver another good quarter. Our U.S. domestic money transfer growth trends continued, bill payments revenue declines slowed, and Western Union Business Solutions provided strong growth."The company reaffirmed its 2011 outlook for EPS of $1.47 to $1.52, vs. the consensus estimate for $1.51 per share, and revenue in the range of $5.34 to $5.40 billion, vs. the consensus estimate for $5.41 billion.