Fiserv (FISV) Q1 Earnings And Revenues Surpass Estimates
Zacks Investment Research | Apr 26, 2017 11:05PM ET
Fiserv Inc (NASDAQ:FISV).’s (NYSE:FIS) first-quarter 2017 adjusted earnings from continuing operations of $1.25 per share beat the Zacks Consensus Estimate of $1.18 and improved 17.9% from the year-ago quarter.
Total revenue increased approximately 4.7% year over year to $1.394 billion and also beat the Zacks Consensus Estimate of $1.393 billion. Adjusted revenues grew 5.3% year over year to $1.32 billion.
Segment-wise, Payments and Industry Products adjusted revenues increased 7.3% year over year to $720 million. Financial Institution Services revenues were up 3.5% year over year to $620 million.
Internal revenues rose 4% owing to growth in Payments (up 5%) and Financial (up 4%) segments.
Source-wise, total Processing and services revenues increased 5% on a year-over-year basis to $1.18 billion while Product revenues increased 3.3% year over year to $216 million.
Margins
Adjusted operating income increased 7.5% from $399 million in the year-ago quarter to $429 million. The company’s adjusted operating margin of 32.5% increased 60 basis points (bps) on a year-over-year basis.
Fiserv, Inc. Price, Consensus and EPS Surprise
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