Fiserv reports $198 million in earnings

Associated Press

Nov. 8, 2019

BROOKFIELD  — Fiserv Inc. (FISV) on Wednesday reported third-quarter net income of $198 million.

The Brookfield-based company said it had net income of 33 cents per share. Earnings, adjusted for one-time gains and costs, were $1.02 per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.

The financial services technology company posted revenue of $3.13 billion in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $3.82 billion.

Fiserv expects full-year earnings in the range of $3.98 to $4.02 per share.

Fiserv shares have climbed 43% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 23%. In the final minutes of trading on Wednesday, shares hit $104.75, an increase of 35% in the last 12 months.