The Western Union Company(NYSE:WU) has announced impressive third quarter earnings thanks to strong forex revenue and traction in the online business.
The company has earned a net income of $269.5 million or 45 cents a share. This is 12.4 percent higher than the net income earned for the quarter ending September 30 last year when the earnings were $239.7 million or 38 cents a share.
The company’s revenues have increased 1 percent to $1.42 billion.
For the full year, the company had previously projected earnings in the range of $1.68 to $1.72. It has now lowered this outlook because of weakness in the global economy and intense competition in the money transfer business. The company now sees earnings in the range of $1.60 and $1.72 a share.
For the fourth quarter, Western Union has declared a dividend of 12.5 cents a share payable on December 31. This is 10 cents higher than the dividend paid for the third quarter.
The company’s board has also authorized new share repurchases of up to $550 million.
Shares of WU slumped 28.51% to $12.82.
Community Health Systems(NYSE:CYH)’s net income for the third quarter has fallen by 40 percent, mainly because of costs incurred in the prepayment of its debts.
The net income for continuing operations is $44.2 million or 49 cents a share. It had earned $4.3 million or 83 cents a share in the third quarter last year. However, if the debt costs are not taken into consideration, the company’s earnings for the latest quarter are 86 cents a share.
Higher patient admissions have resulted in revenue increasing to $3.21 billion, 9 percent higher. The Tennessee based company now operates 135 hospitals.
Community Health has now paid off most of its long term debt. More details are expected in the conference call with investors to be held today.
Shares of CYH are up 1.30% to $27.14.