NEW YORK (TheStreet) -- Western Union (WU) - Get Western Union Company Report shares are up 2.4% to $17.10 in after-hours trading on Thursday after the world's largest money transfer company reported a 9% rise in quarterly profit.

The company reported a third quarter net profit of $234.1 million, or 44 cents per diluted share on an adjusted basis, 6 cents per share better than analysts were expecting and 5 cents better than it reported last year.

Revenue for the period also increased 2% over the previous year to $1.44 billion, ahead of analysts $1.40 billion guidance for the period.

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TheStreet Ratings team rates WESTERN UNION CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate WESTERN UNION CO (WU) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."

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Highlights from the analysis by TheStreet Ratings Team goes as follows:

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