What's Going On With Fiserv Stock Tuesday?
Portfolio Pulse from Anusuya Lahiri
Fiserv, Inc (NYSE:FI) reported Q4 results with a 6% Y/Y revenue increase to $4.92 billion, surpassing the $4.69 billion consensus. Adjusted EPS of $2.19 also beat the consensus of $2.15, marking a 15% increase from the previous year. Organic revenue grew by 12%, led by the Acceptance segment. The company has raised its FY24 organic revenue growth forecast to 15%-17% and adjusted EPS to $8.55-$8.70. Despite the positive report, FI shares dropped 1.14% in premarket trading.
February 06, 2024 | 1:20 pm
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Fiserv reported strong Q4 earnings, surpassing consensus estimates with a 6% revenue increase and a 15% increase in adjusted EPS. The company also raised its FY24 revenue and EPS forecasts.
Despite Fiserv's positive earnings report and optimistic future outlook, the immediate market reaction was negative, with shares dropping 1.14% in premarket trading. This suggests that, in the short term, market sentiment or external factors may be weighing on the stock, despite the company's strong performance and growth prospects.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100