Skip to main content

Market Overview

Fiserv Beats On Q1 Earnings, Raises FY21 Guidance

Share:
Fiserv Beats On Q1 Earnings, Raises FY21 Guidance
  • Fiserv Inc (NASDAQ: FISVreported first-quarter FY21 revenue of $3.76 billion, beating the analyst estimate of $3.57 billion. Acceptance segment revenue posted flat growth. Fintech and Payments segments reported a 3% and 1% growth, respectively.
  • Adjusted operating margin expanded 360 basis points to 31.4%. 
  • Adjusted EPS rose 18% to $1.17, beating the consensus estimate of $1.13.
  • The company repurchased 5.2 million shares for $612 million in Q1. It generated $952 million in operating cash flow.
  • Fiserv expects to complete the acquisition of independent sales organization Pineapple Payments by Q2.
  • The payment processing company has inked a 20-year exclusive alliance agreement with Brazilian bank Caixa Econômical Federal in April for merchant acquiring services.
  • Guidance: Fiserv raised internal revenue growth forecast from the range of 8-12% to 9-12%. Adjusted EPS estimate was raised from the range of $5.3-$5.5 to $5.35-$5.50. The consensus EPS estimate was $5.42.
  • Price action: FISV shares traded higher by 0.89% at $127.68 in the premarket session on the last check Tuesday.
 

Related Articles (FISV)

View Comments and Join the Discussion!

Posted-In: BriefsEarnings News Guidance Tech Media

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com