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Western Union profit falls as consumer business weakens

Tuesday, 29 Oct 2013 | 4:09 PM ET

Oct 29 (Reuters) - Western Union Co, the world's largest money-transfer company, reported a 20 percent fall in third-quarter profit, hurt by lower revenue from its consumer business and higher expenses.

Net income fell to $214.4 million, or 39 cents per share, in the quarter ended Sept. 30, from $269.5 million, or 45 cents per share, a year earlier.

Revenue fell 1 percent to $1.41 billion. Expenses rose 5 percent to $1.11 billion.

(Reporting By Neha Dimri in Bangalore; Editing by Don Sebastian)

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