Ahead of its deal with Fiserv, First Data reported results Wednesday (Feb. 6) for the fourth quarter that largely met previously disclosed preliminary results.
There was no conference call with the investment community to discuss results, which the company attributed to the aforementioned pending deal, announced on Jan. 16. As had been reported, upon consummation, expected in the second half of this year, Fiserv holders will own 57.5 percent of the combined entity, and First Data holders the remainder.
Total segment revenues were $2.2 billion, up 6 percent on a constant currency basis. Earnings per share, adjusted, came to 38 cents.
Turning to individual segments, Global Business Solutions (which includes merchant processing services) revenues were up 8 percent on a constant currency basis to $1.4 billion. North American sales gained 5 percent to $1.1 billion with a boost in partner solutions, with a “modest decline” in JV operations. EMEA sales gained 6 percent to $178 million.
The Global Financial Solutions Segment (which includes payment card services) revenues gained 7 percent, with North America up 2 percent to $226 million, and two areas of growth include APAC, up 27 percent year on year to $33 million, while Asia Pacific revenues gained 26 percent to $29 million.
Network and Security results, tied to Star network and debit activity, saw sales down 1 percent to $389 million. “Modest growth within the EFT business was offset by modest declines in the stored-value and security and fraud businesses,” the company said in its statement.
Looking ahead the company sees revenues with organic constant currency growth for the year of 5 percent to 6 percent.