First Data 3rd-quarter Profit Falls 8 pct

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00022355-first-data-3rd-quarter-profit-falls-8-pct/

First Data Corp., the world’s largest electronic commerce and payment services processor, on Friday posted an expected 8 percent drop in third-quarter profit due to one-time items and lower revenue from its card-issuing division.

Net income fell to $421.5 million, or 54 cents a share, from $460.6 million, or 54 cents, a year earlier.

The results included 7 cents a share of one-time items related to the costs of integrating Concord EFS and the Encorus mobile payments business.

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First Data 3rd-quarter Profit Falls 8 pct

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