UPDATE 1-Cash America raises Q2 outlook, shares rise

(Recasts; adds details, share movement)

July 7 (Reuters) - Payday lender Cash America International Inc (CSH.N) raised its second-quarter earnings outlook above analyst estimates on higher revenue from its pawn business and lower-than-anticipated loan losses from its online cash advance product, sending its shares up 11 percent.

The company said it now expects to earn between 62 cents to 64 cents a share, compared with its previously guided range of 51 cents to 54 cents a share.

Analysts on average were expecting 51 cents a share, before special items, according to Reuters Estimates.

Cash America said its pawn lending business contributed to better results, as revenue from pawn loans exceeded expectations.

Cash America will release second-quarter results on July 24 before the market opens, it said.

The company said it does not see any expenses from discontinued operations in Ohio in the revised estimates. Earlier in May it said it could close up to 139 cash advance lending locations in Ohio due to a change in the Ohio statutes.

However, Cash America said it continues to evaluate the alternatives in connection with its activities in Ohio and expects additional related expenses.

During the second quarter, the company completed its previously announced closure of 12 lending locations in California and Texas, and has included related costs in the estimated results, it said.

Shares of the company were trading up $3.51 at $35.61 on the New York Stock Exchange. (Reporting by Adheesha Sarkar in Bangalore; Editing by Bernard Orr)