Fiserv Earnings Miss Expectations, Shares Slide – What’s Next for the Fintech Giant?
Background: Fiserv (NYSE: FI) is a Fortune 500 payments and fintech company (owner of Clover point-of-sale systems, etc.). Before today’s release, analysts expected a solid quarter – roughly 9% revenue growth and $2.65 EPS stockstory.org. Instead, Fiserv’s adjusted EPS came in at only $2.04 gurufocus.com, missing estimates by about $0.60. Notably, GAAP EPS was $1.46 (up 49% YoY) due to a large one-time item in last year’s quarter gurufocus.com – a quirk of accounting that masked underlying weakness in the core business. Key Numbers: Revenue and profit details came in below forecasts. Analysts on average had expected ~$5.36 billion in revenue