Fiserv Q3 Profit Tops Estimate; Boosts FY14 Earnings Outlook

(RTTNews) - Fiserv, Inc. (FISV) reported net income for the third quarter of $239 million or $0.95 per share, compared to $159 million or $0.60 per share for the year-ago quarter.

Excluding items, Adjusted earnings per share for the latest quarter iwas $0.86.

Revenue for the third quarter grew to $1.26 billion from $1.20 billion a year earlier, while adjusted revenue rose 4% to $1.19 billion from $1.14 billion last year.

Analysts polled by Thomson Reuters expected the company to earn $0.84 per share on revenue of $1.26 billion for the third quarter. Analysts' estimates typically exclude special items.

Fiserv continues to expect 2014 adjusted revenue growth in a range of 4% to 5% and adjusted internal revenue growth of 4% to 4.5%. The company now expects 2014 adjusted earnings per share to be in a range of $3.34 to $3.38, compared to its prior guidance of $3.31 to $3.37.

Analysts currently expect the company to earn $3.36 per share on revenue growth of 5.20% for the full year 2014.