What's Going On With Fiserv Stock Tuesday?

Zinger Key Points
  • Fiserv's Q4 earnings soar with 6% revenue growth to $4.92B, surpassing estimates; adjusted EPS hits $2.19.
  • Fiserv now sees 2024 adjusted EPS growth of 14%-16% vs. previously expected growth of 13%-17%.

Fiserv, Inc FI reported fourth-quarter results, with revenue increasing by 6% Y/Y to $4.92 billion, beating the consensus of $4.69 billion. Adjusted revenue increased 6% Y/Y to $4.64 billion. 

Organic revenue grew 12%, led by 24% growth in the Acceptance segment and 4% in both the Payments, partially offset by a 1% decline in the Fintech segment.

Adjusted EPS of $2.19 beat the consensus of $2.15. This is a 15% increase over $1.91 from the same period last year. The adjusted operating margin increased by 150 bps Y/Y to 40.7%. 

“Fiserv closed out 2023 with accelerated organic revenue growth of 12%, representing our third consecutive year of double-digit growth, as our momentum continued,” said Frank Bisignano, Chairman, President and Chief Executive Officer of Fiserv.

Outlook: Fiserv now expects FY24 organic revenue growth of 15%-17% and adjusted EPS of $8.55-$8.70, representing growth of 14%-16% Y/Y versus the $8.61 consensus.

Earlier, Fiserv expected organic revenue growth of 11%-13% for 2024, with adjusted EPS to grow 13%-17%.

Price Action: FI shares traded lower by 1.14% at $142.50 premarket on the last check Tuesday.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsEquitiesNewsGuidanceGeneralBriefswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!