Fiserv shares rally to record on earnings beat, bullish revenue outlook
Shares of payments company Fiserv rose to a record on Wednesday after reporting better-than-expected earnings.
Shares of Fiserv jumped more than 7% on Wednesday to a record after the payments company reported better-than-expected fourth-quarter earnings and issued guidance that also topped estimates.
The stock closed at $229.53, exceeding its previous high reached in November, and is now up about 60% over the past year. Fiserv, which went public in 1986, provides digital payments technology to small businesses and financial institutions.
Fiserv reported adjusted earnings of $2.51 in the quarter, exceeding the average analyst estimate of $2.48, according to LSEG. Revenue increased about 7% to $5.25 billion from $4.92 billion a year earlier, topping the $4.96 billion consensus estimate.
Clover revenue jumped 29% from the year-ago quarter and in the full year, reaching $2.7 billion for all of 2024. The Clover product consists of payments hardware and software, and helps businesses streamline receivables and payables.