First Data Corp. has reported financial results for the first quarter 2009. Revenues were $2.1 billion, down 2% year over year. Adjusted earnings before interest, taxes, depreciation and amortization were $491 million, down 15%.
FDC's operating profit for the quarter was $30.4 million, down 85% year over year. After paying interest expense on its debt of $448 million, the company reported a net loss of $231 million for the quarter.
"Our revenue base held steady in the quarter as we added new merchant and bank customers," said Michael Capellas, chairman and CEO of First Data. "We will continue to invest in new product development to fuel long-term growth while driving cost efficiencies to sustain profitability."
A webcast and presentation are available online. In its presentation, First Data noted that the volume of merchant transactions it handled in the first quarter fell 14% compared to 1Q2008.