First Data reports revenue growth in second quarter

NEW YORK — First Data Corp. recently reported growth in consolidated revenue and net income for the second quarter ended June 30.

Consolidated revenue was $3 billion, up 3 percent from the prior year period, or up 4 percent excluding currency impacts. Total segment revenue was $1.8 billion for the quarter, up 3 percent from the prior year period, or up 5 percent excluding the impacts from currency and the divestiture of the Australian ATM business that occurred at the end of the third quarter of 2016.

Net income was $185 million, or 20 cents per diluted share. This represents a 22 percent increase from the second quarter of 2016 net income of $152 million, or an 18 percent increase in net income per diluted share from 17 cents.
Adjusted net income, which modifies net income for items such as debt extinguishment charges, stock-based compensation, amortization of acquisition intangibles, restructuring costs and other items, was $378 million, or 40 cents per diluted share.

This represents a 17 percent increase from the second quarter of 2016 adjusted net income of $323 million, or a 14 percent increase in adjusted net income per diluted share from 35 cents in the prior year period.

“As we enter the latter half of 2017, we are focused on initiatives to continue the momentum across our global businesses, maintaining an appropriate balance between investing and managing costs, while also driving improved cash flow,” First Data Chairman and Chief Executive Officer Frank Bisignano said in a news release. “We reiterate our full-year 2017 and medium-term financial guidance.”