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DENVER – First Data Corp. said interest expense to finance the huge buyout of the company last year resulted in a $221.7 million loss for its first quarter, compared to a $175.2 million profit for the first quarter last year.
The company, which was bought out by private equity giant Kohlberg Kravis Roberts & Co. in a $27 billion deal last year, reported $517.7 million in interest expense for the first quarter, up from $34.5 million for the same period last year.
Revenues for the largest processor of transactions grew 16% for the quarter to $2.1 billion, from $1.8 billion for last year’s first quarter.
