Fiserv Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Fiserv Inc. (FISV) reported earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $563 million, or $0.89 per share. This compares with $669 million, or $1.02 per share, in last year's first quarter.

Excluding items, Fiserv Inc. reported adjusted earnings of $996 million or $1.58 per share for the period.

Analysts on average had expected the company to earn $1.57 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.9% to $4.55 billion from $4.14 billion last year.

Fiserv Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $563 Mln. vs. $669 Mln. last year. -EPS (Q1): $0.89 vs. $1.02 last year. -Analyst Estimates: $1.57 -Revenue (Q1): $4.55 Bln vs. $4.14 Bln last year.

-Guidance: Full year EPS guidance: $7.30 to $7.40