First Data reported this morning that second quarter revenue increased 9% while earnings per share grew 21% on a recurring operations basis, or 11% on a pro forma basis. Thanks to strong growth from Western Union, revenue for the payment services segment increased by 17% to $780 million, and profits of $246 million increased by 21% over 2001 pro forma profits of $204 million. The card issuing services segment reported a 5% decrease in revenues to $462 million due to prior year de-conversions. However, card issuing services has more than 70 million retail, debit and bank card accounts in the pipeline for conversion, with approximately 13 million accounts scheduled for conversion during the second half of 2002. CIS operating profits of $91 million were up 1% from 2001 pro forma profits of $90 million. The merchant services segment showed a 15% increase in revenue to $647 million. Profits of $194 million rose 14% over 2001 pro forma profits of $170 million. Merchant processing transactions grew 14% for the second quarter to 2.5 billion. The emerging payments division, First Data’s eONE Global business, which accounts for 2% of total revenue, reported $41 million in revenue for the quarter, a growth rate of 98% due primarily to acquisitions. For complete details on First Data’s 2Q/02 performance visit CardData ([www.carddata.com]).