Fiserv Q4 Profit Tops View; Sees Growth In FY24

(RTTNews) - Fiserv, Inc. (FI), a provider of payments and financial services technology solutions, reported Tuesday that its fourth-quarter net income attributable to the company grew to $870 million from last year's $782 million last year.

Earnings per share were $1.45 in the fourth quarter, an increase of 18 percent from $1.23 a year earlier.

Adjusted net income was $1.32 billion, compared to $1.22 billion last year. Adjusted earnings per share were $2.19, compared to $1.91 a year ago.

Analysts on average expected the company to report earnings of $2.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Total revenue increased 6 percent to $4.92 billion from last year's $4.63 billion. Adjusted revenue increased 6 percent to $4.64 billion in the fourth quarter.

The Street was looking for revenues of $4.69 billion for the quarter.

Looking ahead for fiscal 2024, Fiserv expects adjusted earnings per share of $8.55 to $8.70, a growth of 14 percent to 16 percent, and organic revenue growth of 15 percent to 17 percent.

Analysts are looking for earnings of $8.61 per share for the year.

Frank Bisignano, Chairman, President and Chief Executive Officer of Fiserv, sais, "We are confident in our ability to continue driving strong results and plan to extend our double-digit adjusted earnings per share growth to a 39th consecutive year. "

In pre-market activity on the NYSE, the shares were gaining around 1.16 percent to trade at $145.82.

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