Fiserv reports net income of $546 million

Associated Press

Feb. 8, 2018

BROOKFIELD — Fiserv Inc. (FISV) on Wednesday reported fourth-quarter net income of $546 million.

The Brookfield-based company said it had net income of $2.57 per share. Earnings, adjusted for one-time gains and costs, came to $1.41 per share.

The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.37 per share.

The financial services technology company posted revenue of $1.52 billion in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $1.51 billion.

For the year, the company reported profit of $1.25 billion, or $5.78 per share. Revenue was reported as $5.7 billion.

Fiserv expects full-year earnings in the range of $6.05 to $6.30 per share.

Fiserv shares have decreased 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. In the final minutes of trading on Wednesday, shares hit $129.75, an increase of 22 percent in the last 12 months.