March 26, 2009 - 2:00am
This week First Data Corp. announced its fourth quarter and full year financial report for the period ended December 31, 2008. The report reveals that consolidated revenues for the quarter increased by 8% to $2.3 billion. The adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter rose 1% to $667 million. The net loss for the quarter stood for $3.2 billion which consisted of a non-cash goodwill impairment charge of $3.2 billion.
Consolidated revenues for the full year of 2008 increased 9% to $8.8 billion. Adjusted EBITDA was up 5% to $2.6 billion. The net loss was $3.8 billion, which included the non-cash goodwill impairment.
The report also included segment results. Thus, Merchant Services for the quarter reported revenue of $1.1 billion, up 18%. Excluding both debit network fees and Chase Paymentech, segment revenue growth was 1%. Operating profit was $104 million, up 14%. For the full year Merchant Services revenue was $4.1 billion, up 10%, or up 1% excluding reimbursable debit network fees and purchase accounting adjustments.
Financial Services revenue for the quarter made up $695 million, down 4%. Revenue excluding reimbursables was also down 4%. Operating profit was $110 million, up 12%. Full-year Financial Services revenue was $2.8 billion, down 2%, or down 5% excluding reimbursables and purchase accounting adjustments.
International generated revenue for the quarter stood for $434 million, down 6%. Operating profit was $33 million, down 25%. Full-year International revenue was $1.8 billion, up 13%.
Consolidated revenues for the full year of 2008 increased 9% to $8.8 billion. Adjusted EBITDA was up 5% to $2.6 billion. The net loss was $3.8 billion, which included the non-cash goodwill impairment.
The report also included segment results. Thus, Merchant Services for the quarter reported revenue of $1.1 billion, up 18%. Excluding both debit network fees and Chase Paymentech, segment revenue growth was 1%. Operating profit was $104 million, up 14%. For the full year Merchant Services revenue was $4.1 billion, up 10%, or up 1% excluding reimbursable debit network fees and purchase accounting adjustments.
Financial Services revenue for the quarter made up $695 million, down 4%. Revenue excluding reimbursables was also down 4%. Operating profit was $110 million, up 12%. Full-year Financial Services revenue was $2.8 billion, down 2%, or down 5% excluding reimbursables and purchase accounting adjustments.
International generated revenue for the quarter stood for $434 million, down 6%. Operating profit was $33 million, down 25%. Full-year International revenue was $1.8 billion, up 13%.