First Data earnings up

First Data earnings up
Tags: Bank / Credit Union, Debit / Credit
December 27, 2001

DENVER -- First Data Corp. (NYSE: FDC), reported second-quarter net income, including non-recurring items, of $245 million, a 13 percent increase from net income of $216 million for the same period last year. Net income excluding non-recurring items was up 11 percent, to $243 million from $218 million.

Earnings per share were 61 cents, an increase of 17 percent over second quarter 2000. Revenue grew 11 percent to $1.6 billion.

First Data recently announced a plan to acquire a 60-65 percent equity interest in NYCE, which services 48 million cardholders through 44,000 ATMs and 270,000 point-of-sale locations. The partnership will make First Data a force in PIN-based debit, and will also enhance the company's position in the ATM market.