Increases in debit-network fees and favorable changes in foreign currency fueled a 5.4% increase in second-quarter revenue for First Data Corp., to $2.75 billion from $2.61 billion a year ago, the company reported Aug. 3.
The transaction processor reported a net loss of $128.2 million, slightly more than the $122.2 million loss reported a year earlier for the quarter ended June 30.
Consolidated revenue for the Atlanta card processor, was $2.7 billion, up from $2.6 billion a year ago, while adjusted revenue year-over-year increased $35 million, or 2%, to $1.7 billion.
First Data generated $526 million in operating cash flow, after interest payments of $161 million for the quarter. The company reported $1.8 billion in unrestricted liquidity, including $287 million in cash available for corporate use, plus $1.5 billion under the revolving credit facility.
"Despite the slow U.S. economic recovery, we delivered earnings growth in all three segments of the business, Jonathan J. Judge, First Data chief executive officer, said in a press release.
"I'm pleased with the continued improvement in the profitability of our international regions and the positive momentum in our North American business," Judge said, pointing to the company's Google Wallet partnership, mobile commerce and fraud protection offerings as key elements.
