HACKENSACK, N.J. -- First Data Corp., the credit card processor, posted second-quarter net income of $47 million, up 20% from the same period in 1993.
Earnings per share were 42 cents, compared with 35 cents in 1993 on net income of $39 million.
Operating revenues for the quarter were $410 million, up 8% from $379 million in 1993.
First Data Resources, the Omaha-based subsidiary, is the largest credit card processor for U.S. bank card issuers. A March Montgomery Securities report said that the unit represents more than 40% of total revenues and half of profits.
Ric Duques, First Data's chairman, cited internal growth in card accounts and transactions processed, and increased sales of ancillary services in its U.S. business as reasons for improved net income and revenues.
First Data provides information processing and related services to the transaction card, payment instruments, teleservices, mutual fund, health care, cable television, receivables, and information management industries.