Fiserv Raises 2024 Adj. Earnings Outlook

(RTTNews) - Fiserv, Inc. (FI) said it continues to expect 2024 organic revenue growth of 15% to 17% and increased adjusted earnings per share outlook to $8.60 to $8.75, representing growth of 14% to 16%, for 2024.

First quarter bottom line totaled $735 million, or $1.24 per share compared with $563 million, or $0.89 per share, in last year's first quarter. Adjusted earnings per share increased 19% to $1.88. 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. Adjusted revenue increased 7% to $4.54 billion. Analysts on average had estimated $4.57 billion in revenue. Organic revenue growth was 20% in the first quarter, led by 36% growth in the Merchant Solutions segment and 5% growth in the Financial Solutions segment.

Shares of Fiserv are up 2% in pre-market trade on Tuesday.

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