Fiserv Earns $1.28 Per Share

Fiserv‘s ($FISV) Q2 earnings are out and the company made $1.28 per share for the second three months of the year. This was two cents more than Wall Street’s forecast. All across the board, these were solid results:

GAAP revenue in the second quarter was $1.10 billion compared with $1.07 billion in the second quarter of 2011. Adjusted revenue was $1.03 billion in the second quarter compared with $1.00 billion in 2011, an increase of 3 percent. For the first six months of 2012, GAAP revenue was $2.21 billion compared with $2.11 billion in 2011, and adjusted revenue was $2.06 billion compared with $1.99 billion in 2011, an increase of 4 percent.

GAAP earnings per share from continuing operations for the second quarter was $1.18 compared with $0.67 in 2011, which included a loss from early debt extinguishment of $0.26 per share. GAAP earnings per share from continuing operations for the first six months of 2012 was $2.13 compared with $1.45 in 2011, which included a loss from early debt extinguishment of $0.26 per share.

Adjusted earnings per share from continuing operations in the second quarter increased 13 percent to $1.28 compared with $1.13 in 2011. Adjusted earnings per share from continuing operations for the first six months of 2012 was up 15 percent to $2.48 compared with $2.15 in 2011.

“We achieved strong earnings and sales performance in the quarter consistent with our full year expectations,” said Jeffery Yabuki, President and Chief Executive Officer of Fiserv. “The continuing strength in the sales of our leading channel, payment and account processing solutions is providing strong forward momentum.”

As I suspected this morning, Fiserv raised the lower-end of its full-year forecast by four cents per share. The new range is $5.08 to $5.20 per share. At $72, this is a good deal.

Posted by on July 30th, 2012 at 4:11 pm


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