First Data loss narrows
By Staff Reporter
Aug 01, 2012 04:04 PM EDT
Firm Management
Credit card processor First Data Corp, a unit of private equity firm KKR, reported a narrower quarterly loss, helped by lower expenses and growth in its largest segment.
Second-quarter net loss fell to $157.4 million, from a loss of $175.8 million a year earlier.
Consolidated revenue fell marginally to $2.68 billion due to a $92 million decline in debit network fees, the company said.
First Data's retail and alliance services segment revenue rose 8 percent to $914 million.
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