Compelo Banking is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

First Data Q2 net loss up 3%

First Data Corporation has reported net loss of $175.8m for the second quarter of 2011, up 3%, compared to $171.2m for the same period in 2010.

Revenues were $2.75bn for the second quarter of 2011, compared to $2.61bn for the same period in 2010.

Operating profit was $212m, compared to $146.8m for the same period in 2010.

Retail and alliance services segment revenue for the second quarter was $844m, down 1%, compared to $854m in 2010.

Financial services segment revenue for the second quarter was $345m, down 2%, compared to $351m in the same quarter of 2010 as new business and growth in debit transaction volumes were offset by customer losses and pricing pressure.

International segment revenue for the second quarter was $451m, up 17%, compared to $387m in the prior year.

First Data CEO Jonathan Judge said despite the slow US economic recovery, they delivered earnings growth in all three segments of the business.

"Further, our focus on global product management and innovation is leading to exciting new revenue opportunities, such as the Google Wallet partnership, our mobile commerce and fraud protection offerings, and new products to help our customers navigate the U.S. debit regulatory rules announced in June," Judge said.