Fiserv Inc. Reports Strong Fourth Quarter Results and Positive Growth Forecast

Fiserv Inc., a leading provider of services to banks and financial companies based in Brookfield, Wisconsin, announced an impressive increase in net income for the fourth quarter and projected a promising acceleration in organic revenue growth for 2024.

Strong Financial Performance

In the fourth quarter, Fiserv reported net income of $870 million, or $1.45 per share, representing an 11% rise from the previous year’s income of $782 million, or $1.23 per share. Adjusted earnings per share for the same period stood at $2.19, surpassing the average analyst estimate of $2.15 according to FactSet.

Furthermore, Fiserv achieved a 6.2% increase in fourth-quarter revenue to reach $4.92 billion, exceeding the average Wall Street target of $4.68 billion as reported by FactSet.

Positive Outlook for the Future

Looking ahead, Fiserv provided a positive forecast for the coming years. The company projected adjusted earnings per share for 2024 to fall between $8.55 and $8.70, demonstrating significant growth compared to the $4.98 per share earnings recorded for 2023.

Fiserv also anticipated strong organic revenue growth in the range of 15% to 17% from the levels achieved in 2023. In that year, the company’s revenue reached $19.09 billion, reflecting a 12% increase in organic revenue.

Continued Momentum in Digital Payments

The COVID-19 pandemic accelerated the momentum of digital payments, benefiting companies like Fiserv. However, it is worth noting that certain online merchants, including Amazon.com, have recently observed a slowdown in business.