First Data reported its Merchant Solutions segment revenue for Q1/15 was $888 million, up 4% year-on-year (YOY), adversely impacted by 1% due to the sale of Electronic Funds Source (EFS). Merchant acquiring revenue increased 6% YOY due to transaction growth and revenue from the Company’s merchant suite of solutions.
Merchant Solutions segment EBITDA was $368 million, roughly flat versus the prior year period, primarily due to investments in distribution and innovation and adversely impacted by $6 million due to the EFS sale.
Financial Services segment revenue for the first quarter was $372 million, up 7% YOY, driven by the continued benefit from new business wins, growth in existing portfolios and network revenue. Segment EBITDA was $180 million, up 4% versus the prior year period.
International segment revenue for Q1/15 was $398 million, down 5% versus the prior year period. On a constant currency basis, revenue was up 7% versus the prior year period. On a constant currency basis, merchant acquiring revenue was up 11% due to volume growth and issuing revenue was up 3%. Segment EBITDA was $97 million, down 24% versus the prior year period and down 16% on a constant currency basis due to increased investments, most notably in Brazil.
MERCHANT SOLUTIONS REVENUES
1Q/14: $856 million
2Q/14: $945 million
3Q/14: $920 million
4Q/14: $947 million
1Q/15: $888 million
Source: First Data; CardData
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