Fiserv Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Fiserv Inc. (FI) revealed earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $735 million, or $1.24 per share. This compares with $563 million, or $0.89 per share, in last year's first quarter.

Excluding items, Fiserv Inc. reported adjusted earnings of $1.12 billion or $1.88 per share for the period.

Analysts on average had expected the company to earn $1.79 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.3% to $4.88 billion from $4.55 billion last year.

Fiserv Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $735 Mln. vs. $563 Mln. last year. -EPS (Q1): $1.24 vs. $0.89 last year. -Revenue (Q1): $4.88 Bln vs. $4.55 Bln last year.

-Guidance: Full year EPS guidance: $8.60 to $8.75