WI-based Fiserv reported a huge year-on-year (YOY) jump in first quarter (1Q/16) net income thanks to an asset sale. Gross revenue posted a modest YOY gain driven by payments and industry products revenue. Fiserv posted gross revenue of $1331 million for the first quarter, a 4.4% YOY gain, compared to $1368 million for the prior…
The number of American small business owners reporting increases in company revenue this year are beginning to decline.
American Express U.S. credit card outstandings are growing by 7.3% year-on-year (YOY) and likely to top $67 billion in the fourth quarter. U.S. Card Services reported first-quarter net income of $934 million, up 7% from $876 million a year ago, according to CardData
American Express’ (AmEx) quarterly net income for U.S. cards could exceed $1 billion next year. Forecaster RAM Research predicts AmEx net income for the first quarter of 2016 will come in at $996 million, driven by higher spending.
Average losses in the first-quarter 2015 for the top six issuers were 213 basis points (bps) below their 2010-2014 averages and now at an unsustainable level over the long term. Analysts are saying the industry may be approaching the inflection point in credit performance.
American Express U.S. Card Services reported first-quarter net income of $934 million, up 7% from $876 million a year ago. Total revenues net of interest expense increased 6 percent to $4.5 billion from $4.3 billion a year ago. The increase reflected a 7% rise in cardholder spending and higher net interest income.
EVERTEC posted 1Q/14 total revenue of $87.2 million with an adjusted net income up 16% to $32.0 million from the year ago period. Revenue was flat compared with the year ago period of $87.3 million. Merchant Acquiring net revenue was $19.3 million, an increase of 10% compared with $17.5 million in the prior year. Revenue growth in the quarter was predominantly driven by an increase in transaction volumes.
TSYS announced that its board of directors has approved a quarterly cash dividend of $0.10 per share on TSYS common stock, payable April 2, 2012, to TSYS shareholders of record as of the close of business on March 22, 2012. About TSYS TSYS (NYSE: TSS) is reshaping a new era in digital commerce, connecting consumers,…
NCR Corporation reported financial results for 1Q/11 with a revenue of $1.1 billion-up 6% from the year ago figure- thanks to a favorable impact of 2% from foreign currency translation. NCR’s Financial Services segment generated first-quarter revenue of $592 million, up 3% year-over-year, across most geographies. Meanwhile, the Retail & Hospitality segment reported revenue of $376 million, up 5% from 1Q/10 thanks to continued customer adoption of self-checkout solutions as well as assisted POS deployment. Entertainment revenue of $37 million increased 106 percent from the $18 million recorded in the first quarter of 2010, up 16% from the previous quarter thanks to same store sales growth, new entertainment kiosk deployments and the Company’s strategy to redeploy selected kiosks to better performing locations.
NCR has now installed more intelligent deposit ATMs than any other manufacturer in key global regions, including Europe, MEA and North America according to a report from Retail Banking Research (RBR), including its new “SelfServ 16” compact ATM. With this growth, NCR expects 2011 revenues to increase 5-7% on a constant currency basis compared with 2010. Including the continuing investment in the entertainment portfolio, the company now expects its full-year 2011 Income from Operations (GAAP) to be $170 million to $185 million and non-GAAP non-pension operating income (NPOI) (2) to be in the range of $380 to $395 million.
Bank Machine is issuing coupons through an undisclosed number of its ATMs as part of a pilot program. The ATMs issue cents-off coupons for Mars candy bar and are separate from the receipt cardholders receive for cash withdrawals. The coupon is issued after a cardholder withdraws funds from the ATM and can be used to purchase some Mars candies at discount usually inside the store where the ATM is deployed. Cardtronics is planning a similar coupon pilot with some of its ATMs in the United States. Houston-based Cardtronics operated 18,870 ATMs at the end of the first quarter.
American Express posted 1Q/11 US Card Services Revenue net income of $555 million. This was up 34% from the year ago figure of $414 million, but down from the $701 million posted the previous quarter. Meanwhile, its International Card Services division reported a 1Q/11 net income of $189 million, up 36% from $139 million a year ago. With this, total revenues net of interest expense increased 2% to $3.6 billion from $3.5 billion and 6% to $1.2 billion from $1.1 billion, respectively, thanks to higher cardmember spending. Overall 1Q/11 net income was $1.2 billion, up 33% from $885 million a year ago, and total expenses- such as marketing, promotion, rewards, cardmember services, and salaries- were up 19%.
Additional items include Global Commercial Services having reported a net income of $184 million, up 116% from $85 million a year ago; its Global Network & Merchant Services posting a net income of $313 million, up 24% from $253 million a year ago; and Corporate and Other putting up a net loss of $64 million compared with net loss of $6 million a year ago, partially reflecting investments in Enterprise Growth Group initiatives. American Express has shown a strong bounce back since the middle of 2009 when it suffered its largest Card Services revenue loss of $153 million(CardFlash Library, 2011-01-26).
Bank of America reported 1Q/11 net income of $2.0 billion, compared to net income of $3.2 billion a year ago and a $1.2 billion loss last quarter. Performance improved thanks in part to 30+ day delinquency rates near all-time lows, net losses declining for the sixth straight quarter, and customer payment rates improving for the seventh straight quarter. Meanwhile, its Global Card Services reported net income of $1.7 billion, up $749 million from the year-ago quarter as lower credit costs more than offset a $1.2 billion decline in revenue. The lower revenue reflected a drop in net interest income from lower yields and lower average loans, including run-off portfolios, as well as lower noninterest income due to the impact of the CARD Act as provisions became effective throughout 2010. Net income was up $224 million over the previous quarter as continued credit improvement led to lower credit costs, offsetting lower loan balances and lower yields. Provision for credit losses decreased $2.6 billion from a year ago, driven by lower net charge-offs from lower delinquencies and decreasing bankruptcies as a result of the improved economic environment.