Fiserv’s (FI) shares advanced 3.8% in premarket trading Tuesday following the company’s better-than-anticipated FQ4 report.
The financial technology firm posted Q4 earnings per share (EPS) of $2.19, exceeding the consensus projection of $2.15. Revenue came in at $4.92 billion, while analysts expected $4.68 billion.
Payments revenue grew 3.2% year-over-year to $1.72 billion but slightly below the estimated $1.75 billion. The financial segment saw revenue of $800 million, a decline of 2.8% from the previous year, and missing the forecast of $868.2 million.
Acceptance revenue reached $2.11 billion, up 14% YoY, and beating the expected $2.07 billion.
The adjusted operating margin improved to 40.7% from 39.2% the previous year, equaling the estimate of 39.2%, while organic revenue growth was reported at 12%, exceeding the anticipated 9.65%.
For the full fiscal 2024, Fiserv (NYSE:FI) expects EPS in the range of $8.55 to $8.70, compared to $8.61 estimated by Wall Street.
Organic revenue growth is anticipated ranging from 15% to 17% for the year.
“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,” said CEO Frank Bisignano.
“Building a track record of sustained, high-level performance takes Fiserv’s unique combination of assets – our industry leading client base, distribution, technology and people.