Fiserv Reports 'Strong First Quarter Results,' Raises Full-Year Outlook
Portfolio Pulse from Anusuya Lahiri
Fiserv, Inc (NYSE:FI) reported a 7% year-over-year increase in Q1 revenue to $4.88 billion, surpassing the $4.57 billion consensus. Adjusted EPS was $1.88, beating the $1.79 consensus and marking a 19% increase from the previous year. The company experienced a 20% organic revenue growth, led by its Merchant Solutions segment. Following these strong results, Fiserv raised its full-year adjusted EPS outlook to $8.60 - $8.75. The stock price rose 5.6% to $157.17 following the announcement.
April 23, 2024 | 2:24 pm
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Fiserv reported a 7% Y/Y revenue increase to $4.88B, beating consensus, and raised its full-year EPS outlook, leading to a 5.6% stock price increase.
Fiserv's strong Q1 performance and upward revision of its full-year EPS outlook positively impacted investor sentiment, leading to a significant stock price increase. The company's growth in both revenue and EPS, particularly the notable performance of its Merchant Solutions segment, underscores its operational strength and market confidence, contributing to the positive short-term price direction.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100