ATLANTA (AP) _ First Data Corp. (FDC) on Monday reported first-quarter net income of $36 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Atlanta-based company said it had net income of 4 cents. Earnings, adjusted for one-time gains and costs, were 28 cents per share.
The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The electronic commerce and payment services provider posted revenue of $2.8 billion in the period. Its adjusted revenue was $1.73 billion, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $1.71 billion.
First Data shares have risen 13 percent since the beginning of the year. The stock has climbed 49 percent in the last 12 months.
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