Fiserv has 4Q profit of $286 million

Associated Press

Feb. 8, 2019

BROOKFIELD — Fiserv Inc. (FISV) on Thursday reported fourth-quarter profit of $286 million.

The Brookfield-based company said it had profit of 71 cents per share. Earnings, adjusted for one-time gains and costs, came to 84 cents per share.

The results met Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for earnings of 84 cents per share.

The financial services technology company posted revenue of $1.55 billion in the period, also matching Street forecasts.

For the year, the company reported profit of $1.19 billion, or $2.87 per share. Revenue was reported as $5.82 billion.

Fiserv expects full-year earnings in the range of $3.39 to $3.52 per share.

Fiserv shares have increased 14 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased almost 8 percent. In the final minutes of trading on Thursday, shares hit $84.01, an increase of 30 percent in the last 12 months.