Fiserv Q2 Profit Tops Estimate

(RTTNews) - Fiserv, Inc. (FISV) reported net income for the second quarter of $127 million or $0.53 per share, compared to $166 million or $0.65 per share for the year-ago quarter.

Excluding items, adjusted earnings for the second quarter increased to $228 million or $0.95 per share from $205 million or $0.81 per share in the prior year quarter.

Revenue for the second quarter grew to $1.30 billion from $1.25 billion a year earlier, while adjusted revenue rose 4% to $1.23 billion from $1.18 billion last year.

Analysts polled by Thomson Reuters expected the company to earn $0.94 per share on revenue of $1.31 billion for the second quarter. Analysts' estimates typically exclude special items.

Fiserv continues to expect 2015 internal revenue growth in a range of 5% to 6% and adjusted earnings per share in a range of $3.73 to $3.83, which represents growth of 11% to 14% over $3.37 in 2014. Analysts currently expect the company to earn $3.81 per share for the full year 2015.