First Data Turns To Profit In Q3; Revenues Rise - Quick Facts

(RTTNews) - First Data Corp. (FDC), a provider of commerce-enabling technology and solutions, reported Monday that its third-quarter attributable net income was $132 million or $0.14 per share, compared to a net loss of $126 million in the prior year period.

Adjusted net income was $312 million or $0.34 per share, up $141 million versus the prior year period, driven by improved operating results and lower interest expense.

On average, 25 analysts polled by Thomson Reuters expected earnings of $0.34 per share for the quarter. Analysts' estimates typically exclude special items.

Consolidated revenue for the third quarter edged up 1 percent to $2.94 billion from $2.92 billion last year. Revenues grew 2% excluding currency impacts.

Total revenues, excluding reimbursable items, grew to $2 billion from $1.98 billion last year.

Total segment revenue was $1.8 billion for the quarter, up 1% versus the prior year period, or up 3% excluding currency impacts.

Total segment earnings before interest, taxes, depreciation, and amortization or total segment EBITDA in the third quarter 2016 was $739 million, 5% higher than last year. Total segment EBITDA margin improved 150 basis points to 40.6% in the quarter.