First Data shrinks loss
Sandy Springs-based payment processor First Data narrowed its second quarter loss, as revenue and expenses both declined, the company said Wednesday.
First Data, which is privately held, reported a loss of $157.4 million, down 10 percent from $175.8 million in second quarter last year.
Consolidated revenue was down 2 percent to $2.69 billion, while expenses were down 5 percent to $2.42 billion. Interest expense, however, increased 4 percent to $480.7 million.
First Data said retail and alliance services revenue was up 8 percent and revenue from merchant clients increased 11 percent. Transaction growth was up 3 percent.
About the Author
J. Scott Trubey is the senior editor over business, climate and environment coverage at The Atlanta Journal-Constitution. He previously served as a business reporter for the AJC covering banking, real estate and economic development. He joined the AJC in 2010.
