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Western Union Lowers FY22 Outlook

While reporting its first-quarter results on Thursday, Western Union Co (WU) lowered its outlook for the full year 2022. Following the news shares, the company's stock slipped over 3% in extended trading session.

For the full year 2022, the company now expects earnings of $2.13 to $2.23 per share and adjusted earnings of $1.75 to $1.85 per share. The company expects GAAP revenues to drop 9% to 11% or adjusted revenues to drop low-single digit.

Previously, the company expected earnings of $2.38 to $2.48 per share and adjusted earnings of $1.90 to $2.00 per share. The company had earlier expected to report mid-single digit decline in revenues or flat to low-single digit increase in adjusted revenues.

The company said it lowered its full year 2022 financial outlook due to suspension of operations in Russia and Belarus and other related impacts.

Analysts polled by Thomson Reuters currently estimate earnings of $1.93 per share and revenue drop of 6.80%.

WU closed Thursday's regular trading at $19.18, up $0.58 or 3.12%, on the NYSE. The stock, however slipped $0.64 or 3.34%, in the after-hours trading.

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