Despite a revenue boost it attributed largely to its joint venture with Bank of America Corp., First Data Corp. reported a $288.9 million loss for the third quarter, 76% wider than the year-earlier loss.

Michael Capellas, the transaction processor's chairman and chief executive, said the merchant processing joint venture with B of A, Banc of America Merchant Services LLC, was the "primary driver" of First Data's third-quarter revenue growth.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.