FDC : First Data Corp Message Board

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Technology Stocks : FDC : First Data Corp

FDC 31.69

0.0%

Aug 5 5:00 PM EST

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To: Brian C who wrote (9)	1/30/1997 4:03:00 PM
From: Uncle Mikey	of 323

NEW YORK, Jan 30 (Reuter) - First Data Corp chairman and chief executive Henry Duques said Thursday he expects 1997 earnings will be "in the neighborhood of" $1.60 per share. The projection compares to 1996 earnings from operations of $1.35 per share. Duques told Reuters after a press briefing that he was not making any projection for 1998 other than to say that for the past nine years the company's objective has been to grow revenues, net income and earnings per share approximately 20 percent per year. First Data stock was off two at 36-3/8. Jennifer Scutti, an analyst with Prudential Securities, said the stock of First Data may have slipped because the Wall Street consensus outlook was for 1997 earnings of $1.64 per share. She noted the First Data projection for 1997 represented growth of about 18.5 percent over 1996, compared to the company's 20 percent long term target. But she said First Data remains "a very strong company fundamentally." She added, "I think long-term prospects remain intact" and the company can achieve 18-20 percent growth over the next couple of years.

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