Fiserv Inc Stock Price, News & Analysis

Fiserv (NYSE: FI) reported strong financial results for Q3 2024. GAAP revenue grew 7% to $5.22 billion, with Merchant Solutions up 9% and Financial Solutions up 5%. Organic revenue growth was 15%, driven by 24% growth in Merchant Solutions. Adjusted EPS increased 17% to $2.30, while GAAP EPS decreased 37% to $0.98 due to a $570 million non-cash impairment charge.

The company raised its 2024 outlook, projecting organic revenue growth of 16-17% and adjusted EPS of $8.73-$8.80. Free cash flow increased 23% to $3.34 billion year-to-date. Fiserv repurchased 7.6 million shares for $1.3 billion in Q3. The company was named the #1 global financial technology provider on the 2024 IDC FinTech Top 100 Rankings for the second consecutive year.

Walmart Business has announced a partnership with Fiserv to offer Clover, a leading business management platform, to its business and nonprofit customers. This collaboration aims to help organizations save time, money, and streamline operations. Clover provides integrated solutions for small and medium-sized businesses across various industries, offering features such as sales reporting and cash flow management.

The partnership aligns with Walmart Business's commitment to meeting the unique needs of organizational customers. To mark the launch, Walmart Business customers can benefit from a $500 rebate on select Clover devices and receive a $100 Walmart eGift Card when creating a new merchant services account.

Fiserv (NYSE: FI), a leading global provider of payments and financial services technology solutions, has announced it will release its third quarter financial results on Tuesday, October 22, 2024, before the market opens. The company will host a live webcast at 7 a.m. CT on the same day to discuss the results.

Investors and interested parties can access the webcast and supplemental financial information through the investor relations section of the Fiserv website at investors.fiserv.com. A replay of the webcast will be made available approximately one hour after its conclusion.

The Fiserv Small Business Index for September 2024 remained steady at 141, indicating consistent consumer spending at small businesses in the United States. Key highlights include:

• Year-over-year small business sales grew 1.8%, while transactions increased 4.0%
• Month-over-month sales rose slightly by 0.1%, with transactions declining 0.6%
• Retail and restaurant spending cooled, while services sectors saw growth
• Professional, Scientific, and Technical Services experienced strong year-over-year growth in sales (11.9%) and transactions (8.1%)
• Regionally, New York, Vermont, and Minnesota showed the fastest growth compared to August

The index provides insights into consumer spending patterns and small business performance across various sectors and regions.

Fiserv (NYSE: FI) has been ranked first in the 2024 IDC FinTech Top 100 Rankings for the second consecutive year. This recognition highlights Fiserv's important role in shaping the financial services industry over four decades. The company provides payments and financial services technology to thousands of financial institution clients worldwide.

Key points:

• Fiserv reaches nearly 100% of U.S. households
• IDC forecasts worldwide spending in the financial services industry to exceed $800 billion by 2026
• Fiserv's Financial Solutions segment helps small and medium-sized financial institutions compete with larger banks
• The company assists larger banks in migrating to next-generation technologies

This ranking underscores Fiserv's commitment to helping financial services companies execute digital transformation initiatives for the benefit of clients globally.

PortX, a financial infrastructure and integration technology company, has launched Fintech Hub on AppMarket from Fiserv. This integration simplifies fintech connections for financial institutions using Fiserv's Premier bank platform. Key benefits include:

• Streamlined integrations with Premier through pre-integrated apps
• Cost-effective API-led connectivity between Premier core, Communicator Open, and third-party systems
• Faster, more efficient integration model reducing operational costs
• Accelerated time to market for innovative service offerings

The collaboration aims to support Fiserv's open banking vision, enabling banks and credit unions to access best-of-breed fintechs while maximizing the value of Communicator Open.

The Fiserv Small Business Index for August 2024 remained steady at 141, indicating stable consumer spending at small businesses in the US. Key findings include:

• Year-over-year growth: Sales +1.6%, Transactions +5.7%
• Month-over-month changes: Sales -0.3%, Transactions +1.3%
• Retail sector showed strength, with the index rising to 147
• Restaurants rebounded, with the index increasing 3 points to 126
• Professional Services continued strong growth: Sales +9.6%, Transactions +8.5% YoY

The report highlights shifts in consumer spending patterns, with retail and restaurant sectors trending upward, while some service-based businesses experienced slower growth rates.

PayPal Holdings, Inc. (NASDAQ: PYPL) has expanded its strategic partnership with Fiserv, Inc. (NYSE: FI) to streamline checkout experiences in the U.S. This expansion simplifies how Fiserv's merchant clients enable PayPal, Venmo, and related services, providing a simple connection point to Fastlane by PayPal for accelerated guest checkout flows.

The partnership, spanning over a decade, covers various merchant and payment functions across millions of merchants globally. Fastlane, PayPal's innovative checkout solution, allows users to complete purchases in as little as one click. It has shown impressive results, with guest shoppers using Fastlane converting over 80% of the time, achieving up to 50% higher conversion rates, and reducing checkout time by 32% compared to non-Fastlane users.

The Fiserv Small Business Index™ for July 2024 shows a rebound in consumer spending at small businesses. The index rose to 141, with small business sales growing 3.5% year-over-year and 1.3% month-over-month. Key highlights include:

- Retail sector saw strong growth, with the national Retail index rising to 146
- Restaurant sales declined 1.6% annually and 3.1% monthly
- Professional, Scientific, and Technical Services experienced significant growth (15.2% YoY)
- Specialty Trade Contractors saw increased demand, with 5.7% YoY sales growth

The report indicates shifting consumer spending patterns and potential pricing relief in some sectors, providing valuable insights for small businesses and the broader economy.