Fiserv Clocks 9% Revenue Growth In Q3 Aided By Payments Segment

Fiserv, Inc FISV reported third-quarter FY22 revenue growth of 9% year-on-year to $4.52 billion, while adjusted revenue increased 8% to $4.27 billion. Organic revenue growth was 11%.
The acceptance segment grew 9% Y/Y, the Fintech segment grew 1% Y/Y, and the Payments segment grew 10% Y/Y.
The adjusted operating margin increased by 100 bps to 35.2%.
Adjusted EPS of $1.63 missed the consensus of $1.70.
"We are pleased with our third quarter performance with organic revenue growth at the high-end of the full year outlook and notable strength in the payments segment of our portfolio," said Frank Bisignano, Chair and CEO. "We credit the strength of our client franchise, industry-leading products, and geographic reach for these continued outstanding results."
Outlook: Fiserv sees 2022 organic revenue growth at 11% (prior view 9% - 11%) and adjusted EPS of $6.48 - $6.55 (prior $6.45 - $6.55) versus consensus of $6.48.
Price Action: FISV shares traded lower by 3.23% at $98.47 on the last check Thursday.
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