First Data Q1 Net Loss Narrows; Revenues Rise - Quick Facts

(RTTNews) - Payment processor First Data Corp. (FDC) reported Monday that its first-quarter net loss attributable to the company was $56 million or $0.06 per share, compared to a net loss of $112 million last year.

The net loss in the current quarter included the impact of $46 million of debt extinguishment charges and $52 million of IPO-triggered stock-based compensation expense.

Adjusted net income was $220 million or $0.24 per share, compared to $35 million last year, driven by improved operating results and lower interest expense.

On average, 22 analysts polled by Thomson Reuters expected $0.23 per share. Analysts' estimates typically exclude special items.

Adjusted earnings before interest, taxes, depreciation, and amortization or adjusted EBITDA was $636 million, up 13% from last year, driven by revenue growth and expense management. Adjusted EBITDA margin improved 360 basis points to 37.6% in the quarter.

Consolidated revenue for the first quarter was $2.78 billion, up 3% from $2.70 billion in the prior year period. Revenue increased 5% excluding currency impacts.

Total revenues, excluding reimbursable items, were $1.87 billion, 3 percent higher than last year.

Segment revenue, which modifies consolidated revenue for pass-through items and other impacts, was $1.7 billion for the quarter, up 2% versus the prior year.