Why Fiserv Stock Is Moving Up Today

Fiserv, Inc. FISV shares are trading higher after the company reported strong Q1 results and raised the bottom end of its 2023 financial guidance.

What Happened: On Tuesday before market open, Fiserv announced its first-quarter financial results for the period ended March 31, 2023. The company also provided guidance.

The Details: Fiserv reported quarterly earnings of $1.58 per share compared to the analyst consensus estimate of $1.57, representing a slight positive earnings surprise. The company reported quarterly sales of $4.55 billion compared to the analyst estimate of $4.19 billion, representing a positive earnings surprise of 8.52%.

Additionally, Fiserv adjusted its guidance for fiscal 2023. The company expects organic revenue growth in the range of 8%-9%, up from the previous guidance of 7%-9%. Fiserv also boosted its EPS outlook to the range of $7.30-$7.40, up from the previous guidance of $7.25-$7.40.

"We raised our 2023 organic revenue and adjusted EPS guidance based on our strong first-quarter results. Our guidance for the year is tempered only by the potential for a weaker, second-half economy," said Frank Bisignano, Chairman President and CEO of Fiserv.

Fiserv, Inc. aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence.

According to data from Benzinga Pro, Fiserv shares were up 3.18%, trading at $121.03 at the time of publication. The stock has a 52-week high of $119.48 and a 52-week low of $87.04.