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First Data Q2 earnings beat estimates ahead of Fiserv integration

First Data Corp. reported second-quarter earnings that slightly beat consensus estimates as the payment processing company is set to complete its merger with Fiserv Inc., following their massive $22 billion merger deal in January. 

First Data reported adjusted second quarter earnings of $409 million, or 42 cents a share, an 8% increase from the year-ago quarter. Earnings came in one point ahead of consensus estimates of 41 cents a share from Zacks.

"Our strong results from the first half of the year reflect great momentum we continue to see around the world in both our merchant acquiring and card processing businesses," Frank Bisignano, chairman and chief executive officer of First Data, said in the earnings announcement. "As we look ahead, we remain focused on executing against our key strategic initiatives, including continuously innovating to help our clients, and are confident that the pending merger with Fiserv will enhance our offerings and create tremendous value for our clients and shareholders."

The company did not hold a conference call with analysts due to the pending close of the Fiserv deal next week. 

Revenue for the quarter rose to 2% to $2.48 billion. 

The company reiterated its annual earnings forecast of $1.55 to $1.58 per share and revenue growth of 5% to 6%. 

 

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