Worldpay has reported a net loss of $97.6m for the first quarter of 2018, compared to a profit of $28.9m a year ago.
Net loss per diluted share attributable to Worldpay was $0.36, as against net income per diluted share of $0.17 last year.
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The firm attributed the loss to integration costs and amortisation of intangible assets incurred in relation to Vantiv’s acquisition of Worldpay Group in January this year.
The firm’s net revenue for the quarter ended 31 March 2018 was $850.7m, a surge of 81% from $470.1m in the corresponding quarter of 2017.
Worldpay co-CEOs Charles Drucker and Philip Jansen said: “Our first quarter results exceeded our expectations. It’s rewarding to see our combined companies come together to create strong results so quickly.
“Worldpay’s scale, unrivaled technology offerings and dedicated people enable us to provide superior outcomes for our clients, positioning us to continue to win in the payments industry.”
