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
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
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.