ATLANTA (AP) _ First Data Corp. (FDC) on Monday reported first-quarter net income of $101 million.
On a per-share basis, the Atlanta-based company said it had net income of 11 cents. Earnings, adjusted for one-time gains and costs, were 29 cents per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The electronic commerce and payment services provider posted revenue of $2.28 billion in the period. Its adjusted revenue was $2.08 billion, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $1.9 billion.
First Data expects full-year earnings in the range of $1.42 to $1.47 per share.
First Data shares have fallen almost 9 percent since the beginning of the year. The stock has decreased slightly more than 2 percent in the last 12 months.
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