Fiserv Reports Q4 Earnings Beat Expectations

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Fiserv Inc., a Milwaukee-based financial services technology company, reported fourth-quarter profit of $811 million, or $1.51 per share. Adjusted earnings were $1.99 per share, beating Wall Street expectations. The company's revenue in the quarter was $5.28 billion, with adjusted revenue of $4.9 billion, which fell short of analyst forecasts. For the full year, Fiserv reported profit of $3.48 billion, or $6.34 per share, on revenue of $19.8 billion. The company expects full-year 2023 earnings in the range of $8 to $8.30 per share.

Why it matters

Fiserv is a major player in the financial technology industry, providing payment processing, digital banking, and other services to banks, merchants, and other financial institutions. Its strong quarterly and annual results demonstrate the company's ability to navigate the evolving financial services landscape and capitalize on growing demand for its products and services.

The details

Fiserv's fourth-quarter profit of $811 million, or $1.51 per share, was up from the same period a year earlier. Adjusted earnings, which exclude one-time gains and costs, were $1.99 per share, beating the average estimate of 13 analysts surveyed by Zacks Investment Research. The company's revenue in the quarter was $5.28 billion, with adjusted revenue of $4.9 billion, which fell short of the $4.95 billion expected by 12 analysts surveyed by Zacks.

• Fiserv reported its fourth-quarter and full-year 2022 results on February 10, 2023.

What’s next

Fiserv expects to report full-year 2023 earnings in the range of $8 to $8.30 per share.