First Data (FDC) Q1 Earnings Match Estimates, Guides Well
Zacks Investment Research | May 08, 2017 10:14PM ET
First Data Corporation’s (NYSE:FDC) first-quarter 2017 earnings matched the Zacks Consensus Estimate. Shares were up 3.81% at the end of Monday’s trading in response to the decent results.
There was a significant increase in earnings on a year-over-year basis driven by increased revenues, cost management and capital structure improvement initiatives.
In the quarter, First Data continued to expand its enterprise business. The company differentiates itself in this space by consistently offering new features and solutions to existing clients and making continuous efforts to expand its client base. It continues to maintain its leading position in the bank acquiring channel through strategic partnerships.
First Data continued to progress steadily with its SMB turnaround plan, which is expected to boost the company’s North American merchant business. The company has been improving on both merchant and sales force attrition.
Overall, we believe First Data’s focus on globalizing its offerings and strategic partnerships along with its healthy business around large and small banks will drive growth going forward. First Data has had an impressive run on the bourse over the last one year. The company gained 51.7%, much better than the Zacks
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