UPDATE 1-MoneyGram profit misses estimates as costs rise
* Q1 EPS $0.14 vs est $0.20
* Expenses rise 8 pct
* Sees 2012 revenue growth of 7 pct to 9 pct
April 26 (Reuters) - Payment services company MoneyGram International Inc posted a lower-than-expected first-quarter profit as higher expenses weighed on the company's results.
The company posted a net income of $10.2 million, or 14 cents per share, compared with $14 million, or a loss of $2.08 per share, a year ago.
Analysts, on an average, had expected the company to earn 20 cents per share, according to Thomson Reuters I/B/E/S.
Total revenue rose to $318 million from $294 million.
Expenses grew 8 percent to $282.1 million.
The company reiterated that it expects total full-year revenue to grow 7 percent to 9 percent.
Shares of the Dallas, Texas-based company closed at $16.20 on Wednesday on the New York Stock Exchange.
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