NCR reported that its first-quarter income rose 123%, to $29 million from a year earlier, driven by increased business from U.S. regional banks.
NCR's revenue rose 18%, to $1.2 billion, year over year.
The Duluth, Ga., company said Thursday that the revenue for its financial services segment, which includes ATM sales, rose 17%, to $694 million, from a year earlier. The business also gained ground in Asia, the Middle East and Africa, the company said.
With ATM sales, "we are seeing improved or increased activity in the funnel," said Bill Nuti, NCR's chairman and chief executive, on a conference call Thursday with investors. "It's a combination of" the financial services business "continuing to grow, but also retail kicking in in the U.S. a little bit. So, we remain optimistic."
Revenue from NCR's the retail solutions business dropped 9%, to $347 million, from a year earlier. The decline stemmed from NCR's decision to remove its specialty retail and hospitality accounts to its newly formed hospitality segment, which had $113 million in revenue.