News

First Data reports a higher third-quarter net loss on higher revenue

November 3, 2010

First Data Corp. today reported a larger net loss on improved revenue for the third quarter ended September 30.

The Atlanta-based ATM owner and payments processor recorded a net loss of $431.3 million, up 48.4 percent, compared with a net loss of $290.6 million for the same three-month period last year. The net loss included a $178 million charge associated with U.S. tax legislation that affects First Data's ability to use foreign tax credits to offset future U.S. taxes.

First Data, however, recorded higher revenues of $2.6 billion, up 8.3 percent, compared with $2.4 billion in 2009's third quarter.

The company owns CashAxcess, a Cape Town, South Africa-based ATM deployer. First Data also provides ATM processing, ATM terminal driving, risk and fraud services.