Fiserv (FISV) 2021 Q1 Earnings Report Preview

Fiserv Inc. (NASDAQ:FISV), being a fintech company, helps financial institutions in processing payments and moving money. The company serves thousands of financial institutions and enterprises in more than 100 countries. It primarily generates revenue from payment processing and associated services.

The Wisconsin-based company recently announced mixed financial results for the first quarter. Fiserv reported earnings of 45 cents per share for the three months ended March 31, down from 57 cents per share in the comparable quarter of 2020. Excluding items, the company reported earnings of $1.17 per share that surpassed the consensus forecast of $1.13 per share.

Revenue for the quarter remained nearly unchanged at $3.76 billion. Analysts on average were expecting Fiserv to report revenue of $3.57 billion. If we look at the performance of different segments in the quarter, sales at the Acceptance segment remained flat as compared to last year. Comparatively, Fintech revenue rose 3 percent, and Payments revenue inched up 1 percent on a year-over-year basis.

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Speaking on the results, CEO Frank Bisignano said in a statement, “Fiserv delivered another strong quarter as the pandemic hit its one-year anniversary late in the first quarter. The focus on driving innovation while supporting our clients and associates continues to lead to strong operating results as the global economy begins to recover.”

Fiserv also raised the lower end of its financial outlook. The company now expects adjusted earnings in the range of $5.35 per share to $5.50 per share and revenue growth of 21 to 24 percent for the current fiscal year.

See also 15 Fastest Growing Fintech Companies.