Fiserv lifts annual profit forecast on strong consumer spending [Reuters]
Fiserv, Inc. (FI)
Last fiserv, inc. earnings: 2/25 07:00 am
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Source: Reuters
, opens new tab raised its annual profit forecast and topped Wall Street estimates for first-quarter results on Tuesday, helped by strong consumer spending, sending its shares up 2.7% before the bell. Consumer spending, supported by a tight labor market and healthy wage growth, has remained strong despite some uncertainty caused by higher inflation and interest rates staying elevated for a longer period. Wisconsin-based Fiserv, a provider of payments and financial services technology offerings, collects fees from merchants, banks and credit unions for processing transactions. Such fees are determined by consumer spending volumes. The company said it now expects adjusted profit of between $8.60 and $8.75 per share in 2024, higher than the $8.55 to $8.70 range it forecast earlier. Processing and services revenue, which makes up more than four-fifths of Fiserv's revenue, rose 8.9% to $4 billion in the quarter. Total revenue jumped 7.4% to $4.88 billion in the quarter, compared
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FI
Earnings
- 4/23/24 - Beat
FI
Sec Filings
- 5/1/24 - Form 4
- 5/1/24 - Form 4
- 4/24/24 - Form 10-Q
- FI's page on the SEC website