May 22, 2017 9:37 PM ET

IT Services

Company Overview of First Data Corporation

Company Overview

First Data Corporation provides electronic commerce solutions for merchants, financial institutions, and card issuers worldwide. It operates through three segments: Global Business Solutions, Global Financial Solutions, and Network & Security Solutions. The Global Business Solutions segment offers retail point-of-sale merchant acquiring and e-commerce services; and mobile payment services and Webstore-in-a-box solutions, as well as its cloud-based Clover point-of-sale operating system, which includes a marketplace for proprietary and third-party business applications. The Global Financial Solutions segment provides credit solutions for bank and non-bank issuers, such as credit and retail pri...

5565 Glenridge Connector NE

Suite 2000

Atlanta, GA 30342

United States

Founded in 1989

24,000 Employees

Phone:

404-890-2000

Key Executives for First Data Corporation

Chairman and Chief Executive Officer
Age: 57
Total Annual Compensation: $2.6M
President
Age: 56
Total Annual Compensation: $1.7M
Chief Financial Officer and Executive Vice President
Age: 40
Total Annual Compensation: $855.0K
Executive Vice President of Network & Security Solutions
Age: 52
Total Annual Compensation: $4.2M
Head of Global Business Solutions and Executive Vice President
Age: 51
Total Annual Compensation: $1.0M
Compensation as of Fiscal Year 2016.

First Data Corporation Key Developments

First Data's Clover Platform to Enable Android Pay's Smart Tap

First Data announced that its Clover platform will support Android Pay’s NFC-based smart tap messaging, making it available to developers. As part of the collaboration between First Data and Google, the Clover Customer Engagement Suite will support small businesses to better connect with customers during checkout and beyond. Clover’s integration with Android Pay was demonstrated live for the audience at today’s Google I/O 2017 conference in Mountain View, California.

Live Oak Bancshares, Inc. and First Data Announce New Digital Banking Joint Venture

First Data and Live Oak Bancshares, Inc. announced a new joint venture to accelerate the growth of digital banking services. As part of the agreement, First Data and Live Oak will contribute their digital banking platforms, products, and services to the new company, yet to be named. First Data will own 50% of the joint venture and Live Oak will own 50%. The deal is expected to close in the third quarter.

First Data Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017

First Data Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported total revenue of $2,801 million compared to $2,777 million a year ago. Operating profit was $327 million compared to $238 million a year ago. Income before income taxes and equity earnings in affiliates was $36 million compared to loss of $65 million a year ago. Net income attributable to company was $36 million or 0.04 per basic and diluted share compared to loss of $56 million or 0.06 per basic and diluted share a year ago. Net cash provided by operating activities was $421 million compared to $386 million a year ago. Total EBITDA was $651 million compared to $636 million a year ago. Adjusted net income was $258 million or 0.28 per diluted share compared to $220 million or 0.24 per diluted share a year ago. Capital expenditures were $117 million against $117 million for the same period a year ago. Free cash flow was $261 million against $211 million for the same period a year ago. Net debt was $18,146 million against $18,176 million for the same period a year ago.

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