Citing a $115 million decline in debit-network fees, First Data Corp. saw its fourth-quarter consolidated revenue decline by 1.5%, to $2.69 billion from $2.73 billion a year earlier, the Atlanta-based card processor reported Feb. 1.
Adjusted revenue, which excludes debit-network fees, rose 3%, to $1.73 billion from $1.68 billion, First Data said.
Merchant-related services revenue rose 7.1%, to $994 million from $928 million, while card services revenue remained flat at $439 million.
The net loss attributable to First Data Corp. for the quarter ended Dec. 31 was $69.3 million, an improvement from the $179 million loss a year earlier. The company cited a $171 million elevation in operating income as the key driver in reducing losses.