News
First Data reports strong 4Q, year-over-year growth
January 24, 2007
DENVER - First Data Corp. reported that its revenue for the fourth quarter of 2006 jumped 14 percent from the same period in 2005. According to a news release, revenue hit $1.9 billion, while income from continuing operations hit $240 million, 31 cents per share.
First Data spun off its Western Union businessin September.
For the year, First Data reported revenue of $7.1 billion, up 8 percent from last year, and income of $848 million, $1.09 per share.
"Two-thousand and six was a great year for First Data, and both our full-year and fourth-quarter results confirm the merits of our earlier decision to spin-off Western Union and focus 100 percent of our efforts on our financial-institution and merchant clients around the globe,' said Ric Duques, First Data's chairman and chief executive. "We had a strong finish to 2006, with all segments performing in line with expectations, providing significant momentum and enthusiasm as we enter 2007."
Duques attributed the company's success to growing its core business, expanding its product offerings, improving its overall cost structure, and expanding its operations globally.
The company's commercial-services segment reported $1.1 billion in revenue for the quarter, a 10 percent increase from last year. Those results were driven by a 13 percent increase in transaction growth, the company said. Operating profit for the segment grew 8 percent.
For the year, commercial-services revenue was up 10 percent from 2005 at $4.1 billion. Operating profit came in at $1.1 billion, up 22 percent.
The financial-institution-services segment reported revenue of $484 million for the quarter, a 10 percent increase. Operating profit was $96 million, up 12 percent.
For the year, FI-services revenue hit $1.8 billion, down 2 percent from last year. Operating profit also fell, coming at $371 million, a 2 percent drop.
First Data International generated $377 million in revenue during the quarter, a 43 percent increase from 4Q '05. Operating profit hit $59 million, up 52 percent.
For the year, First Data International revenue came in at $1.3 billion, up 38 percent from '05. Operating profit was $154 million, a 36 percent increase.
Asia, Australia & PacificEFT NetworksOtherNorth AmericaLatin AmericaPublic CompaniesMiddle East & AfricaBank / Credit Union
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