First Data Q2 Results Gain From Healthy Margin Compression, Lower Interest Costs

First Data Corporation FDC announced better than expected earnings for the second quarter driven by health margin compression and lower interest costs. Its revenue recorded two percent growth and excluding currency impact, it would have been three percent growth.

The company's net income attributable was $152 million, which compares to a net loss of $26 million in the year-ago period. On an adjusted basis, its net income would have been $323 million or $0.35 per share, up $179 million from the prior year period. This was $0.02 a share better than Zacks estimation of $0.33 a share.

First Data's consolidated revenue was $2.9 billion representing two percent uptick on a YOY basis. Its total segment revenue also grew two percent to $1.8 billion for the quarter or four percent higher excluding currency impacts.

Chairman and CEO, Frank Bisignano, commented, "We continue to implement and scale a number of strategic initiatives in our North American merchant business and remain confident these will drive visible improvement."

FDC closed Friday trading at $12.40.