Innovation Update

Sale Boosts First Data

 

Updated from 9:42 a.m. EDT

First Data Corp.(FDC Quote) Thursday reported higher first-quarter results, though much of the gain was credited to the sale of its ATM unit.

The company posted net income of $483.5 million, or 61 cents a share, including discontinued operations, for the three-month period ended March 31, up from $292.6 million, or 39 cents a share, in the year-ago period. Revenue rose to $2.26 billion, from $1.97 billion in the year-ago period.

Analysts' consensus estimate was for 44 cents a share, according to Thomson First Call.

The $436 million sale of Global Cash Access, the nation's largest network of ATMs in casinos, accounted for a gain of 21 cents a share.

The Denver-based credit card transaction-processing company, and parent of Western Union, also reported a non-cash 2 cents-a-share restructuring charge related to accounting problems found at its TeleCheck business in 2002 and 2003. The company is reviewing TeleCheck's "strategic fit," it said in a statement.

First Data shares were recently up 3.7% to $46.45.

  • Loading Comments...
  •  

SHARE:

  • email
  • print
  • comment
  • digg
  • delicious
  • linkedin

Recent Comments





Connect with TheStreet

Dow Jones S&P 500 NASDAQ 10-Year Note
10,441.12 1,109.18 2,206.91 35.96
Oil *
73.64
DOWN
10.88
UP
1.25
UP
5.86
DOWN
0.07
10 Yr
3.60%
SPDR Gold
111.59
-0.10%
+0.11%
+0.27%
-0.19%
Data delayed 20 minutes

More From TheStreet

Latest Headlines

Brokerage Partners

TheStreet Premium Services

All Services