3:40 a.m. Dec. 8, 2020
- By Tomi Kilgore
Fiserv affirms 2020 profit outlook, provides in-line guidance for next yearFiserv Inc. reiterated its full-year 2020 adjusted profit growth outlook of 11% over 2019 earnings, "despite some softening in demand due COVID-19 restrictions," and said it expects 2021 adjusted earnings-per-share growth of 20% to 25%. The FactSet consensus for 2020 EPS of $4.41 implied 10.3% growth, and the 2021 EPS consensus of $5.38 implies 22% growth. Also for 2021, the company expects internal revenue growth of 7% to 12%. The payments and financial technology company said its financial outlook "does not assume a significant extension of COVID-19 deep into 2021." The stock, which slipped 0.2% in premarket trading, has rallied 23.1% over the past three months through Monday, while the S&P 500 has gained 10.8%.
2:45 p.m. May 7, 2020
- By Emily Bary
Fiserv says CEO Yabuki will depart in July as First Data executive steps into the top roleFiserv Inc. shares dropped 2% in after-hours trading Thursday after the company announced that Chief Executive Jeffery Yabuki will be stepping down from his post on July 1. He'll be succeeded by Frank Bisignano, who's currently the president and chief operating officer of Fiserv. He joined the company from First Data, which Fiserv acquired in July. Yabuki is the chairman of Fiserv's board and will stay on as executive chairman for the duration of 2020. The company also posted first-quarter results Thursday. It reported net income of $392 million, or 57 cents a share, up from $225 million, or 56 cents a share, in the year-prior quarter. Adjusted earnings per share rose to 99 cents from 85 cents and came in even with the FactSet consensus. Revenue rose to $3.77 billion from $1.5 billion and included $1.4 billion from the businesses acquired in the First Data deal. Fiserv shares have lost 12% in the past three months as the S&P 500 has declined 13%.