IMGCAP(1)]
First Data Corp. today reported 2008 revenue of $8.8 billion, up 8.6% from $8.1 billion the previous year. However, the Greenwood Village, Colo.-based processor experienced a net loss for the year of $3.8 billion; it reported net income of $1.6 million in 2007. First Data cites a $3.2 billion noncash reduction in its goodwill, which measures company attributes such as brand value and similar intangible assets, as a partial cause for last year's loss. Fourth quarter revenue totaled $2.3 billion, up 9.5% from $2.1 billion during the same period in 2007. The $3.2 billion net loss for the quarter compares with a $2.7 million net loss a year earlier. By segment, First Data's merchant-services business experienced the largest growth among the company's business segments during the fourth quarter with revenue of $1.1 billion, up 12.7% from $976 million a year earlier. Fourth-quarter revenue in First Data's prepaid services unit grew 4.9%, to $75.1 million from $71.6 million. The company's financial services business, which serves card issuers, generated revenue during the quarter of $695.2 million, up 4.4% from $726.9 million. First Data's international business experienced a 6% decrease in revenue, to $434 million from $461.8 million.
