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.