Company Overview of First Data Corporation
First Data Corporation provides electronic commerce and payment solutions for merchants, financial institutions, and card issuers worldwide. The company’s Merchant Solutions segment offers merchant acquiring services that facilitate the merchants’ ability to accept credit, debit, stored-value, and loyalty cards; and processing services comprising authorization, transaction capture, settlement, chargeback handling, and Internet-based transaction processing. It also provides prepaid stored-value card issuance and processing services for retailers and others; program management and processing services for association-branded, bank-issued, open loop, stored-value, reloadable, and one time prepai...
5565 Glenridge Connector, NE
Atlanta, GA 30342
Founded in 1989
Key Executives for First Data Corporation
Chairman and Chief Executive Officer
President and President of First Data Holdings Inc
Executive Vice President and Director of Finance
Chief Operations Officer and Executive Vice President
President of Retail & Alliance Services
Compensation as of Fiscal Year 2014.
First Data Corporation Key Developments
First Data Corp. Plans to Close Office in Melville; Plans to Open New Office in the East of Manhattan
May 13 15
First Data Corp. plans to close the office in Melville within six months to a year and transfer many of the jobs to a large new office east of Manhattan. Many of the current Melville employees will remain with the company after the move.
The company has grown its team in New York City and soon will open a large new office in the east of Manhattan.
First Data Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
May 4 15
First Data Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenue of $2,695 million compared to $2,640 million a year ago. Operating profit was $260 million compared to $285 million a year ago. Income before income taxes and equity earnings in affiliates was $111 million compared to loss before income taxes and equity earnings in affiliates of $178 million a year ago. Net loss was $63 million compared to net loss of $165 million a year ago. Net loss attributable to the company was $112 million compared to net loss attributable to the company of $201 million a year ago. Net cash used by operating activities was $102 million compared to $44 million a year ago. Adjusted net income was $40 million against adjusted net loss of $9 million a year ago. Adjusted earnings before interest, taxes, depreciation, and amortization (adjusted EBITDA) was $563 million, down 8% versus the prior year period or down 6% excluding currency impacts, as revenue growth was offset by increased expenses as a result of continued growth-related investments and the non-recurrence of $17 million of expense credits in the prior year period. Driving the year over year improvement were reductions in interest expense and income taxes as well as an increase in other income. The quarter over quarter change from net income to net loss was largely driven by the seasonal variance in revenue. Adjusted net income, which modifies net income for items such as the amortization of acquisition intangibles, stock-based compensation, restructuring costs, and other items was $40 million, up $49 million versus the prior year period. EBITDA was $97 million, down 24% compared to the prior year period and down 16% in constant currency. The EBITDA decline for the quarter was also negatively impacted by expense credits in the prior year period, totaling $17 million by further investments in Brazil and in international sales force. Free cash flow was down approximately $100 million compared to first quarter last year. That decline came from 2 principal drivers: first, $51 million of lower EBITDA driven by growth investments, impacting operating cash flow; and $46 million of higher working capital usage due to timing of receivable collection. Adjusted revenue was $1.7 billion, this is up 2% on a reported basis, but the underlying top line story is stronger with adjusted revenue, up 5% excluding the impact of foreign exchange. The quarter was also negatively impacted by the loss of $13 million or 1 percentage point related to the divestiture of EFS in the year-ago period.
First Data and Sam’s Club Collaborate to Fuel Small Business Growth
Apr 22 15
First Data announced an extended agreement with Sam’s Club to improve member access to First Data solutions and technologies. First Data will increase its presence in Sam’s Club locations around the country by staffing on-site business consultants in Sam’s Club’s locations. The dedicated sales teams are currently present in more than half of those sites, offering hands-on demonstrations of its comprehensive solutions for business owners. First Data will also continue distribution of the solutions for business owners online at samsclub.com. The First Data collection of small business solutions features Clover™, a dynamic business management system that uses cloud-based software to enable businesses to securely accept payments, including mobile and online, manage inventory, track revenues, improve customer loyalty and generate reports. Clover hardware is EMV-ready to securely accept chip-card technology and new payment types, including payments via mobile devices. First Data is easing access to EMV-ready technology ahead of October 1, 2015, when credit card counterfeit fraud liability will generally shift to merchants that are not using chip-enabled point of sale devices.
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