Fiserv boosts 2023 forecast as 2Q financial results beat estimates
Published: 09:26 26 Jul 2023 EDT
Fiserv, Inc raised its 2023 revenue and adjusted earnings per share (EPS) outlook on Wednesday as its second-quarter top and bottom-line financial results beat expectations.
The provider of payments and financial services technology solutions said it now expects full-year organic revenue growth of 9% to 11% along with adjusted EPS of $7.40 to $7.50, better than the $7.37 consensus analyst estimate.
Fiserv reported 2Q EPS of $1.81, $0.02 better than analyst expectations, on $4.76 billion in revenue for the quarter, which surpassed the $4.54 billion Wall Street forecast.
"We delivered our ninth consecutive quarter of double-digit organic revenue growth, as we sustained our momentum in merchant acceptance and expanded our digital payments proposition for financial institutions," Fiserv CEO Frank Bisignano said in a statement.
Shares of Fiserv were little changed in pre-market trading on Wednesday but have surged 29% year to date.
Contact Sean at sean@proactiveinvestors.com
