Fiserv reports increased revenue during first quarter

Special to The Freeman

April 29, 2014

BROOKFIELD – On Tuesday, Fiserv, Inc. announced an increase in its revenue during the first quarter compared to the same period in 2013.

According to the Brookfield-based global provider of financial services technology solutions, its GAAP revenue in the first quarter was $1.23 billion compared with $1.15 billion in the first quarter of 2013. Adjusted revenue was $1.15 billion in the first quarter compared with $1.08 billion in the first quarter of 2013, an increase of 6 percent, according to the company.

“Our strong results in the quarter included 8 percent internal revenue growth in the Payments segment, and excellent operating performance across the company,” said Jeffery Yabuki, president and chief executive officer of Fiserv, in a statement. “Total sales increased 17 percent in the quarter reflecting the momentum of our market leading products and services.”

Adjusted earnings per share increased 22 percent in the first quarter to $0.82 compared with $0.67 in the prior year period, according to the announcement.