Fiserv Earns 75 Cents per Share

Fiserv (FISV) just reported Q2 earnings of 75 cents per share. That was one penny per share better than estimates. The financial services firm also reiterated its full-year guidance of $3.02 to $3.15 per share, on internal revenue growth of at least 4.5%.

Fiserv’s CEO, Jeffery Yabuki, said, “Our first-half performance has set us up for strong full-year results and additional momentum as we look into 2019.”

“Our second quarter results were excellent and have us well-positioned to achieve our full-year objectives,” said Jeffery Yabuki, President and Chief Executive Officer of Fiserv. “We continue to focus on service quality, innovation and integration which is reflected in both our current results and sales pipeline entering the second half of the year.”

Here are some highlights of Q2:

Adjusted revenue increased 2 percent to $1.35 billion in the second quarter and 3 percent to $2.72 billion in the first six months of 2018 compared to the prior year periods.

Internal revenue growth for the company was 6 percent in the second quarter, with 5 percent growth in the Payments segment and 7 percent growth in the Financial segment.

Internal revenue growth for the company was 5 percent in the first six months of 2018, with 5 percent growth in the Payments segment and 4 percent growth in the Financial segment.

Adjusted earnings per share increased 32 percent to $0.75 in the second quarter and 27 percent to $1.51 in the first six months of 2018 compared to the prior year periods.

Adjusted operating margin increased 40 basis points to 32.4 percent in the second quarter and increased 20 basis points to 32.5 percent in the first six months of 2018 compared to the prior year periods.

Free cash flow was $491 million in the first six months of 2018 compared to $555 million in the prior year period.

Sales results were up 6 percent in the quarter and 9 percent in the first six months of 2018 compared to the prior year periods.

The company repurchased 5.4 million and 11.0 million shares of common stock for $390 million and $789 million in the second quarter and first half of 2018, respectively. The company had 10.4 million remaining shares authorized for repurchase as of June 30, 2018.

This means the company expects $1.51 to $1.64 per share for the second half of this year.

Posted by on July 31st, 2018 at 4:26 pm


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