Fiserv Reports Fourth Quarter and Full Year 2024 Results
Fiserv (NYSE: FI) reported strong financial results for Q4 and full year 2024. The company achieved 7% GAAP revenue growth both quarterly and annually, reaching $5.25 billion in Q4 and $20.46 billion for the full year. Organic revenue growth was particularly impressive at 13% in Q4 and 16% for the full year, driven by strong performance in the Merchant Solutions segment.
GAAP EPS increased 13% to $1.64 in Q4 and 8% to $5.38 for the full year. The company generated robust operating cash flow of $6.63 billion and free cash flow of $5.23 billion for 2024. Notable segment performance included 11% growth in Merchant Solutions and 3% growth in Financial Solutions for Q4.
Looking ahead to 2025, Fiserv projects organic revenue growth of 10-12% and adjusted EPS of $10.10-$10.30, representing growth of 15-17%. The company also reported significant share repurchases, buying back 33.9 million shares for $5.5 billion in 2024.
Fiserv (NYSE: FI) ha riportato risultati finanziari solidi per il Q4 e l'intero anno 2024. L'azienda ha registrato una crescita dei ricavi GAAP del 7%, sia su base trimestrale che annuale, raggiungendo $5.25 miliardi nel Q4 e $20.46 miliardi per l'anno intero. La crescita organica dei ricavi è stata particolarmente impressionante, con un aumento del 13% nel Q4 e del 16% per l'intero anno, sostenuta da una solida performance nel segmento delle Soluzioni per i Merchant.
L'EPS GAAP è aumentato del 13% a $1.64 nel Q4 e dell'8% a $5.38 per l'intero anno. L'azienda ha generato un robusto flusso di cassa operativo di $6.63 miliardi e un flusso di cassa libero di $5.23 miliardi per il 2024. I risultati significativi per segmento includono una crescita dell'11% nelle Soluzioni per i Merchant e del 3% nelle Soluzioni Finanziarie per il Q4.
Guardando avanti verso il 2025, Fiserv prevede una crescita organica dei ricavi del 10-12% e un EPS aggiustato di $10.10-$10.30, che rappresenta una crescita del 15-17%. L'azienda ha anche riportato significativi riacquisti di azioni, riacquistando 33.9 milioni di azioni per $5.5 miliardi nel 2024.
Fiserv (NYSE: FI) reportó resultados financieros sólidos para el Q4 y el año completo de 2024. La empresa logró un crecimiento de ingresos GAAP del 7% tanto trimestral como anual, alcanzando $5.25 mil millones en el Q4 y $20.46 mil millones para el año completo. El crecimiento de ingresos orgánicos fue particularmente impresionante con un 13% en el Q4 y un 16% para el año completo, impulsado por un sólido rendimiento en el segmento de Soluciones para Comerciantes.
El EPS GAAP aumentó un 13% a $1.64 en el Q4 y un 8% a $5.38 para el año completo. La empresa generó un robusto flujo de caja operativo de $6.63 mil millones y un flujo de caja libre de $5.23 mil millones para 2024. El rendimiento notable por segmento incluyó un crecimiento del 11% en Soluciones para Comerciantes y un 3% en Soluciones Financieras para el Q4.
De cara al 2025, Fiserv proyecta un crecimiento orgánico de ingresos del 10-12% y un EPS ajustado de $10.10-$10.30, que representa un crecimiento del 15-17%. La empresa también reportó recompras significativas de acciones, comprando 33.9 millones de acciones por $5.5 mil millones en 2024.
Fiserv (NYSE: FI)는 2024년 4분기 및 전체 연도에 강력한 재무 성과를 보고했습니다. 회사는 GAAP 수익 성장률 7%을 달성하였으며, 4분기에는 52억 5천만 달러, 전체 연도에는 204억 6천만 달러에 도달했습니다. 유기적 수익 성장률은 4분기 13%, 전체 연도 16%로 매우 인상적이었으며, 이는 상인 솔루션 부서의 강력한 성과에 의해 주도되었습니다.
GAAP EPS는 4분기에 13% 증가하여 1.64달러에, 전체 연도에 8% 증가하여 5.38달러에 도달했습니다. 회사는 2024년 동안 66억 3천만 달러의 강력한 운영 현금 흐름과 52억 3천만 달러의 자유 현금 흐름을 창출했습니다. 두드러진 부서의 성과에는 4분기에 상인 솔루션에서 11% 성장과 재무 솔루션에서 3% 성장이 포함되었습니다.
2025년을 앞두고, Fiserv는 유기적 수익 성장률을 10-12%로 예상하며, 조정된 EPS는 10.10달러에서 10.30달러로 15-17%의 성장을 나타냅니다. 회사는 또한 2024년에 33.9백만 주를 55억 달러에 재매입하는 의미 있는 주식 매입을 보고했습니다.
Fiserv (NYSE: FI) a rapporté des résultats financiers solides pour le quatrième trimestre et l'année entière de 2024. L'entreprise a enregistré une croissance des revenus GAAP de 7%, tant trimestriellement qu'annuellement, atteignant 5,25 milliards de dollars au Q4 et 20,46 milliards de dollars pour l'année entière. La croissance organique des revenus a été particulièrement impressionnante, avec une augmentation de 13% au Q4 et de 16% pour l'année entière, soutenue par une forte performance dans le segment des Solutions pour les Commerçants.
L'EPS GAAP a augmenté de 13% à 1,64 $ au Q4 et de 8% à 5,38 $ pour l'année entière. L'entreprise a généré un solide flux de trésorerie opérationnel de 6,63 milliards de dollars et un flux de trésorerie libre de 5,23 milliards de dollars pour 2024. Les performances notables par segment ont inclus une croissance de 11% dans les Solutions pour Commerçants et de 3% dans les Solutions Financières pour le Q4.
En regardant vers 2025, Fiserv prévoit une croissance organique des revenus de 10-12% et un EPS ajusté de 10,10 $ à 10,30 $, représentant une croissance de 15-17 %. L'entreprise a également signalé des rachats d'actions significatifs, rachetant 33,9 millions d'actions pour 5,5 milliards de dollars en 2024.
Fiserv (NYSE: FI) hat starke finanzielle Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 gemeldet. Das Unternehmen erzielte ein GAAP-Umsatzwachstum von 7% sowohl vierteljährlich als auch jährlich und erreichte 5,25 Milliarden US-Dollar im Q4 und 20,46 Milliarden US-Dollar für das gesamte Jahr. Das organische Umsatzwachstum war mit 13% im Q4 und 16% für das gesamte Jahr besonders beeindruckend und wurde durch eine starke Leistung im Segment Merchant Solutions unterstützt.
Das GAAP-EPS stieg im Q4 um 13% auf 1,64 US-Dollar und um 8% auf 5,38 US-Dollar für das gesamte Jahr. Das Unternehmen generierte einen robusten operativen Cashflow von 6,63 Milliarden US-Dollar und einen freien Cashflow von 5,23 Milliarden US-Dollar für 2024. Bei den Segmentleistungen war ein Wachstum von 11% im Bereich Merchant Solutions und von 3% im Bereich Financial Solutions für das Q4 bemerkenswert.
Für das Jahr 2025 prognostiziert Fiserv ein organisches Umsatzwachstum von 10-12% und ein angepasstes EPS von 10,10-10,30 US-Dollar, was einem Wachstum von 15-17% entspricht. Das Unternehmen berichtete auch über signifikante Aktienrückkäufe und kaufte 33,9 Millionen Aktien für 5,5 Milliarden US-Dollar im Jahr 2024.
- Organic revenue growth of 16% for full year 2024
- Strong operating cash flow of $6.63 billion for 2024
- Free cash flow of $5.23 billion for 2024
- Merchant Solutions segment grew 23% in Q4 2024
- Adjusted operating margin increased 170 basis points to 39.4% for full year
- Substantial share repurchase of $5.5 billion in 2024
- $595 million non-cash impairment charge related to equity method investments
- $147 million non-cash settlement charge for terminated pension plans
Insights
Fiserv's Q4 and FY2024 results showcase exceptional execution across key metrics. The standout 16% full-year organic revenue growth significantly outpaces the fintech industry average of 8-10%, demonstrating market share gains. The Merchant Solutions segment's remarkable 27% annual organic growth reflects successful penetration into high-growth verticals and enhanced value proposition.
The margin expansion story is particularly compelling, with adjusted operating margin improving 170 basis points to 39.4% for the full year. This efficiency improvement, coupled with $6.63B operating cash flow, demonstrates the scalability of Fiserv's platform and strong operating leverage. The company's aggressive share repurchase program of $5.5B in 2024 represents effective capital return to shareholders while maintaining investment capacity.
The segment realignment announced in Q1 2024 strategically positions Fiserv to better serve financial institution clients through integrated solutions, potentially driving cross-selling opportunities and deeper client relationships. The 2025 guidance of 10-12% organic revenue growth appears conservative given the current momentum and market opportunities, suggesting potential upside if execution remains strong.
GAAP revenue growth of
GAAP EPS increased
Operating cash flow was
Organic revenue growth of
Adjusted EPS increased
Free cash flow was
Company expects 2025 organic revenue growth of
and adjusted EPS of
Fourth Quarter and Full Year 2024 GAAP Results
GAAP revenue for the company increased
GAAP earnings per share was
GAAP operating margin was
“Fiserv’s track record of growth and consistency continued through 2024 — our fourth year in a row of double-digit organic revenue growth and 39th consecutive year of double-digit adjusted earnings per share growth,” said Frank Bisignano, Chairman and Chief Executive Officer of Fiserv. “The strength and sustainability of Fiserv’s performance is a testament to our unparalleled business model which generates high recurring revenue, strong incremental margin, and healthy free cash flow.”
Fourth Quarter and Full Year 2024 Non-GAAP Results and Additional Information
-
Adjusted revenue increased
7% to$4.90 billion 7% to$19.12 billion -
Organic revenue growth was
13% in the fourth quarter of 2024, led by23% growth in the Merchant Solutions segment and4% growth in the Financial Solutions segment. -
Organic revenue growth was
16% for the full year 2024, led by27% growth in the Merchant Solutions segment and6% growth in the Financial Solutions segment. -
Adjusted earnings per share increased
15% to$2.51 17% to$8.80 -
Adjusted operating margin increased 180 basis points to
42.9% in the fourth quarter and 170 basis points to39.4% for the full year 2024 compared to the prior year periods. -
Adjusted operating margin increased 150 basis points to
39.2% in the Merchant Solutions segment and 320 basis points to51.7% in the Financial Solutions segment in the fourth quarter of 2024, compared to the prior year period. -
Adjusted operating margin increased 290 basis points to
37.0% in the Merchant Solutions segment and 130 basis points to47.3% in the Financial Solutions segment for the full year 2024, compared to the prior year. -
The company repurchased 6.1 million shares of common stock for
$1.3 billion $5.5 billion - In January 2025, Fiserv was named one of Fortune® World’s Most Admired Companies™, a recognition received by the company for 10 of the last 11 years.
Outlook for 2025
Fiserv expects organic revenue growth of
“We are confident in our ability to meet or beat the medium-term outlook provided at our November 2023 investor conference, as ongoing Merchant and Financial Solutions initiatives are having early success,” said Bisignano. “Our 2025 guidance reflects a continuation of our product, client and distribution strategies and our commitment to operational excellence to drive outperformance.”
Segment Realignment
The company realigned its reportable segments during the first quarter of 2024 to correspond with changes in its business designed to further enhance operational performance in the delivery of its integrated portfolio of products and solutions to its financial institution clients (“Segment Realignment”). The company’s new reportable segments are Merchant Solutions and Financial Solutions. Segment results for the three months and full year ended December 31, 2023 have been recast to reflect the Segment Realignment.
Earnings Conference Call
The company will discuss its fourth quarter and full year 2024 results in a live webcast at 7 a.m. CT on Wednesday, February 5, 2025. The webcast, along with supplemental financial information, can be accessed on the investor relations section of the Fiserv website at investors.fiserv.com. A replay will be available approximately one hour after the conclusion of the live webcast.
About Fiserv
Fiserv, Inc. (NYSE: FI), a Fortune 500™ company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news.
Use of Non-GAAP Financial Measures
In this news release, the company supplements its reporting of information determined in accordance with generally accepted accounting principles (“GAAP”), such as revenue, operating income, operating margin, net income attributable to Fiserv, diluted earnings per share and net cash provided by operating activities, with “adjusted revenue,” “adjusted revenue growth,” “organic revenue,” “organic revenue growth,” “adjusted operating income,” “adjusted operating margin,” “adjusted net income,” “adjusted earnings per share,” “adjusted earnings per share growth,” and “free cash flow.” Management believes that adjustments for certain non-cash or other items and the exclusion of certain pass-through revenue and expenses should enhance shareholders' ability to evaluate the company’s performance, as such measures provide additional insights into the factors and trends affecting its business. Therefore, the company excludes these items from its GAAP financial measures to calculate these unaudited non-GAAP measures. The corresponding reconciliations of these unaudited non-GAAP financial measures to the most comparable GAAP measures are included in this news release, except for forward-looking measures where a reconciliation to the corresponding GAAP measures is not available due to the variability, complexity and limited visibility of the non-cash and other items described below that are excluded from the non-GAAP outlook measures. See page 15 for additional information regarding the company’s forward-looking non-GAAP financial measures.
Examples of non-cash or other items may include, but are not limited to, non-cash intangible asset amortization expense associated with acquisitions; non-cash impairment and terminated pension plan settlement charges; severance costs; merger and integration costs; gains or losses from the sale of businesses, certain assets or investments; and certain discrete tax benefits and expenses. The company excludes these items to more clearly focus on the factors management believes are pertinent to the company’s operations, and management uses this information to make operating decisions, including the allocation of resources to the company’s various businesses.
The company adjusts its non-GAAP results to exclude amortization of acquisition-related intangible assets as such amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size of acquisitions. Management believes that the adjustment of acquisition-related intangible asset amortization supplements GAAP information with a measure that can be used to assess the comparability of operating performance. Although the company excludes amortization from acquisition-related intangible assets from its non-GAAP expenses, management believes that it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation.
Management believes organic revenue growth is useful because it presents revenue growth excluding the impact of foreign currency fluctuations, acquisitions, dispositions and the impact of the company’s postage reimbursements. Management believes free cash flow is useful to measure the funds generated in a given period that are available for debt service requirements and strategic capital decisions. Management believes this supplemental information enhances shareholders’ ability to evaluate and understand the company’s core business performance.
These unaudited non-GAAP measures may not be comparable to similarly titled measures reported by other companies and should be considered in addition to, and not as a substitute for, revenue, operating income, operating margin, net income attributable to Fiserv, diluted earnings per share and net cash provided by operating activities or any other amount determined in accordance with GAAP.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding anticipated organic revenue growth, adjusted earnings per share, adjusted earnings per share growth and other statements regarding our future financial performance. Statements can generally be identified as forward-looking because they include words such as “believes,” “anticipates,” “expects,” “could,” “should,” “confident,” “likely,” “plan,” or words of similar meaning. Statements that describe the company’s future plans, outlook, objectives or goals are also forward-looking statements.
Forward-looking statements are subject to assumptions, risks and uncertainties that may cause actual results to differ materially from those contemplated by such forward-looking statements. The factors that could cause the company’s actual results to differ materially include, among others, the following: the company’s ability to compete effectively against new and existing competitors and to continue to introduce competitive new products and services on a timely, cost-effective basis; changes in customer demand for the company’s products and services; the ability of the company’s technology to keep pace with a rapidly evolving marketplace; the success of the company’s merchant alliances, some of which are not controlled by the company; the impact of a security breach or operational failure in the company’s business, including disruptions caused by other participants in the global financial system; losses due to chargebacks, refunds or returns as a result of fraud or the failure of the company’s vendors and merchants to satisfy their obligations; changes in local, regional, national and international economic or political conditions, including those resulting from heightened inflation, rising interest rates, a recession, bank failures, or intensified international hostilities, and the impact they may have on the company and its employees, clients, vendors, supply chain, operations and sales; the effect of proposed and enacted legislative and regulatory actions affecting the company or the financial services industry as a whole; the company’s ability to comply with government regulations and applicable card association and network rules; the protection and validity of intellectual property rights; the outcome of pending and future litigation and governmental proceedings; the company’s ability to successfully identify, complete and integrate acquisitions, and to realize the anticipated benefits associated with the same; the impact of the company’s strategic initiatives; the company’s ability to attract and retain key personnel; volatility and disruptions in financial markets that may impact the company’s ability to access preferred sources of financing and the terms on which the company is able to obtain financing or increase its costs of borrowing; adverse impacts from currency exchange rates or currency controls; changes in corporate tax and interest rates; and other factors included in “Risk Factors” in the company’s Annual Report on Form 10-K for the year ended December 31, 2023, and in other documents that the company files with the Securities and Exchange Commission, which are available at http://www.sec.gov. You should consider these factors carefully in evaluating forward-looking statements and are cautioned not to place undue reliance on such statements. The company assumes no obligation to update any forward-looking statements, which speak only as of the date of this news release.
Fiserv, Inc. |
|||||||||||||||
Condensed Consolidated Statements of Income |
|||||||||||||||
(In millions, except per share amounts, unaudited) |
|||||||||||||||
|
|
|
|
|
|
|
|
||||||||
|
Three Months Ended
|
|
Year Ended
|
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Revenue |
|
|
|
|
|
|
|
||||||||
Processing and services |
$ |
4,260 |
|
|
$ |
4,025 |
|
|
$ |
16,637 |
|
|
$ |
15,630 |
|
Product |
|
991 |
|
|
|
892 |
|
|
|
3,819 |
|
|
|
3,463 |
|
Total revenue |
|
5,251 |
|
|
|
4,917 |
|
|
|
20,456 |
|
|
|
19,093 |
|
|
|
|
|
|
|
|
|
||||||||
Expenses |
|
|
|
|
|
|
|
||||||||
Cost of processing and services |
|
1,320 |
|
|
|
1,265 |
|
|
|
5,363 |
|
|
|
5,332 |
|
Cost of product |
|
699 |
|
|
|
577 |
|
|
|
2,650 |
|
|
|
2,338 |
|
Selling, general and administrative |
|
1,564 |
|
|
|
1,624 |
|
|
|
6,564 |
|
|
|
6,576 |
|
Net (gain) loss on sale of businesses and other assets |
|
— |
|
|
|
5 |
|
|
|
— |
|
|
|
(167 |
) |
Total expenses |
|
3,583 |
|
|
|
3,471 |
|
|
|
14,577 |
|
|
|
14,079 |
|
|
|
|
|
|
|
|
|
||||||||
Operating income |
|
1,668 |
|
|
|
1,446 |
|
|
|
5,879 |
|
|
|
5,014 |
|
Interest expense, net |
|
(323 |
) |
|
|
(284 |
) |
|
|
(1,195 |
) |
|
|
(976 |
) |
Other expense, net |
|
(161 |
) |
|
|
(59 |
) |
|
|
(178 |
) |
|
|
(140 |
) |
|
|
|
|
|
|
|
|
||||||||
Income before income taxes and loss from investments in unconsolidated affiliates |
|
1,184 |
|
|
|
1,103 |
|
|
|
4,506 |
|
|
|
3,898 |
|
Income tax provision |
|
(193 |
) |
|
|
(210 |
) |
|
|
(641 |
) |
|
|
(754 |
) |
Loss from investments in unconsolidated affiliates |
|
(43 |
) |
|
|
(4 |
) |
|
|
(685 |
) |
|
|
(15 |
) |
|
|
|
|
|
|
|
|
||||||||
Net income |
|
948 |
|
|
|
889 |
|
|
|
3,180 |
|
|
|
3,129 |
|
Less: net income attributable to noncontrolling interests |
|
10 |
|
|
|
19 |
|
|
|
49 |
|
|
|
61 |
|
|
|
|
|
|
|
|
|
||||||||
Net income attributable to Fiserv |
$ |
938 |
|
|
$ |
870 |
|
|
$ |
3,131 |
|
|
$ |
3,068 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP earnings per share attributable to Fiserv – diluted |
$ |
1.64 |
|
|
$ |
1.45 |
|
|
$ |
5.38 |
|
|
$ |
4.98 |
|
|
|
|
|
|
|
|
|
||||||||
Diluted shares used in computing earnings per share attributable to Fiserv |
|
571.4 |
|
|
|
602.7 |
|
|
|
582.1 |
|
|
|
615.9 |
|
|
|
|
|
|
|
|
|
||||||||
Earnings per share is calculated using actual, unrounded amounts. |
|||||||||||||||
Fiserv, Inc. |
|||||||||||||||
Reconciliation of GAAP to |
|||||||||||||||
Adjusted Net Income and Adjusted Earnings Per Share |
|||||||||||||||
(In millions, except per share amounts, unaudited) |
|||||||||||||||
|
|
|
|
||||||||||||
|
Three Months Ended
|
|
Year Ended
|
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP net income attributable to Fiserv |
$ |
938 |
|
|
$ |
870 |
|
|
$ |
3,131 |
|
|
$ |
3,068 |
|
Adjustments: |
|
|
|
|
|
|
|
||||||||
Merger and integration costs 1 |
|
22 |
|
|
|
38 |
|
|
|
81 |
|
|
|
158 |
|
Severance costs |
|
80 |
|
|
|
22 |
|
|
|
157 |
|
|
|
74 |
|
Amortization of acquisition-related intangible assets 2 |
|
335 |
|
|
|
378 |
|
|
|
1,420 |
|
|
|
1,623 |
|
Non wholly-owned entity activities 3 |
|
22 |
|
|
|
31 |
|
|
|
100 |
|
|
|
133 |
|
Impairment of equity method investments 4 |
|
25 |
|
|
|
— |
|
|
|
635 |
|
|
|
— |
|
Non-cash settlement charge for terminated pension plans 5 |
|
147 |
|
|
|
— |
|
|
|
147 |
|
|
|
— |
|
Net (gain) loss on sale of businesses and other assets 6 |
|
— |
|
|
|
5 |
|
|
|
— |
|
|
|
(167 |
) |
Canadian tax law change 7 |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
27 |
|
Tax impact of adjustments 8 |
|
(132 |
) |
|
|
(94 |
) |
|
|
(548 |
) |
|
|
(355 |
) |
Argentine Peso devaluation 9 |
|
— |
|
|
|
71 |
|
|
|
— |
|
|
|
71 |
|
Adjusted net income |
$ |
1,437 |
|
|
$ |
1,321 |
|
|
$ |
5,123 |
|
|
$ |
4,632 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP earnings per share attributable to Fiserv - diluted |
$ |
1.64 |
|
|
$ |
1.45 |
|
|
$ |
5.38 |
|
|
$ |
4.98 |
|
Adjustments – net of income taxes: |
|
|
|
|
|
|
|
||||||||
Merger and integration costs 1 |
|
0.03 |
|
|
|
0.05 |
|
|
|
0.11 |
|
|
|
0.21 |
|
Severance costs |
|
0.11 |
|
|
|
0.03 |
|
|
|
0.22 |
|
|
|
0.10 |
|
Amortization of acquisition-related intangible assets 2 |
|
0.47 |
|
|
|
0.50 |
|
|
|
1.95 |
|
|
|
2.11 |
|
Non wholly-owned entity activities 3 |
|
0.03 |
|
|
|
0.04 |
|
|
|
0.14 |
|
|
|
0.17 |
|
Impairment of equity method investments 4 |
|
0.07 |
|
|
|
— |
|
|
|
0.85 |
|
|
|
— |
|
Non-cash settlement charge for terminated pension plans 5 |
|
0.16 |
|
|
|
— |
|
|
|
0.16 |
|
|
|
— |
|
Net (gain) loss on sale of businesses and other assets 6 |
|
— |
|
|
|
0.01 |
|
|
|
— |
|
|
|
(0.19 |
) |
Canadian tax law change 7 |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
0.04 |
|
Argentine Peso devaluation 9 |
|
— |
|
|
|
0.12 |
|
|
|
— |
|
|
|
0.12 |
|
Adjusted earnings per share |
$ |
2.51 |
|
|
$ |
2.19 |
|
|
$ |
8.80 |
|
|
$ |
7.52 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP earnings per share attributable to Fiserv growth |
|
13 |
% |
|
|
|
|
8 |
% |
|
|
||||
Adjusted earnings per share growth |
|
15 |
% |
|
|
|
|
17 |
% |
|
|
||||
See pages 3-4 for disclosures related to the use of non-GAAP financial measures. Earnings per share is calculated using actual, unrounded amounts. |
||
| 1 |
Represents acquisition and related integration costs incurred in connection with acquisitions. Merger and integration costs associated with integration activities for the full year 2024 primarily include |
|
| 2 | Represents amortization of intangible assets acquired through acquisition, including customer relationships, software/technology and trade names. This adjustment does not exclude the amortization of other intangible assets such as contract costs (sales commissions and deferred conversion costs), capitalized and purchased software, financing costs and debt discounts. See additional information on page 14 for an analysis of the company’s amortization expense. |
|
| 3 | Represents the company’s share of amortization of acquisition-related intangible assets at its unconsolidated affiliates, as well as the minority interest share of amortization of acquisition-related intangible assets at its subsidiaries in which the company holds a controlling financial interest. |
|
| 4 | Represents a non-cash impairment of certain equity method investments during 2024, primarily related to the company’s Wells Fargo Merchant Services joint venture, recorded within loss from investments in unconsolidated affiliates in the consolidated statement of income. |
|
| 5 |
Represents a non-cash settlement charge associated with the terminations of the company’s defined benefit pension plans in the |
|
| 6 | Represents a net gain for the full year primarily associated with the sale of the company’s financial reconciliation business during 2023. |
|
| 7 | Represents the impact of a multi-year retroactive Canadian tax law change, enacted in June 2023, related to the Goods and Services Tax / Harmonized Sales Tax (GST/HST) treatment of payment card services. |
|
| 8 |
The tax impact of adjustments is calculated using a tax rate of |
|
| 9 |
On December 12, 2023, the |
|
Fiserv, Inc. |
|||||||||||||||
Financial Results by Segment |
|||||||||||||||
(In millions, unaudited) |
|||||||||||||||
|
|
|
|
|
|
|
|
||||||||
|
Three Months Ended
|
|
Year Ended
|
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Total Company |
|
|
|
|
|
|
|
||||||||
Revenue |
$ |
5,251 |
|
|
$ |
4,917 |
|
|
$ |
20,456 |
|
|
$ |
19,093 |
|
Adjustments: |
|
|
|
|
|
|
|
||||||||
Postage reimbursements |
|
(349 |
) |
|
|
(320 |
) |
|
|
(1,333 |
) |
|
|
(1,247 |
) |
Deferred revenue purchase accounting adjustments |
|
— |
|
|
|
3 |
|
|
|
— |
|
|
|
19 |
|
Adjusted revenue |
$ |
4,902 |
|
|
$ |
4,600 |
|
|
$ |
19,123 |
|
|
$ |
17,865 |
|
|
|
|
|
|
|
|
|
||||||||
Operating income |
$ |
1,668 |
|
|
$ |
1,446 |
|
|
$ |
5,879 |
|
|
$ |
5,014 |
|
Adjustments: |
|
|
|
|
|
|
|
||||||||
Merger and integration costs 1 |
|
22 |
|
|
|
38 |
|
|
|
81 |
|
|
|
158 |
|
Severance costs |
|
80 |
|
|
|
22 |
|
|
|
157 |
|
|
|
74 |
|
Amortization of acquisition-related intangible assets |
|
335 |
|
|
|
378 |
|
|
|
1,420 |
|
|
|
1,623 |
|
Net (gain) loss on sale of businesses and other assets |
|
— |
|
|
|
5 |
|
|
|
— |
|
|
|
(167 |
) |
Canadian tax law change |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
27 |
|
Adjusted operating income |
$ |
2,105 |
|
|
$ |
1,889 |
|
|
$ |
7,537 |
|
|
$ |
6,729 |
|
|
|
|
|
|
|
|
|
||||||||
Operating margin |
|
31.8 |
% |
|
|
29.4 |
% |
|
|
28.7 |
% |
|
|
26.3 |
% |
Adjusted operating margin |
|
42.9 |
% |
|
|
41.1 |
% |
|
|
39.4 |
% |
|
|
37.7 |
% |
|
|
|
|
|
|
|
|
||||||||
Merchant Solutions (“Merchant”) 2 |
|
|
|
|
|
|
|
||||||||
Revenue |
$ |
2,499 |
|
|
$ |
2,261 |
|
|
$ |
9,631 |
|
|
$ |
8,722 |
|
|
|
|
|
|
|
|
|
||||||||
Operating income |
$ |
979 |
|
|
$ |
851 |
|
|
$ |
3,561 |
|
|
$ |
2,974 |
|
|
|
|
|
|
|
|
|
||||||||
Operating margin |
|
39.2 |
% |
|
|
37.7 |
% |
|
|
37.0 |
% |
|
|
34.1 |
% |
|
|
|
|
|
|
|
|
||||||||
Financial Solutions (“Financial”) |
|
|
|
|
|
|
|
||||||||
Revenue |
$ |
2,401 |
|
|
$ |
2,331 |
|
|
$ |
9,477 |
|
|
$ |
9,101 |
|
Adjustments: |
|
|
|
|
|
|
|
||||||||
Deferred revenue purchase accounting adjustments |
|
— |
|
|
|
3 |
|
|
|
— |
|
|
|
19 |
|
Adjusted revenue |
$ |
2,401 |
|
|
$ |
2,334 |
|
|
$ |
9,477 |
|
|
$ |
9,120 |
|
|
|
|
|
|
|
|
|
||||||||
Operating income |
$ |
1,241 |
|
|
$ |
1,128 |
|
|
$ |
4,485 |
|
|
$ |
4,178 |
|
Adjustments: |
|
|
|
|
|
|
|
||||||||
Deferred revenue purchase accounting adjustments |
|
— |
|
|
|
3 |
|
|
|
— |
|
|
|
19 |
|
Adjusted operating income |
$ |
1,241 |
|
|
$ |
1,131 |
|
|
$ |
4,485 |
|
|
$ |
4,197 |
|
|
|
|
|
|
|
|
|
||||||||
Operating margin |
|
51.7 |
% |
|
|
48.4 |
% |
|
|
47.3 |
% |
|
|
45.9 |
% |
Adjusted operating margin |
|
51.7 |
% |
|
|
48.5 |
% |
|
|
47.3 |
% |
|
|
46.0 |
% |
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
||||||||
Fiserv, Inc. |
|||||||||||||||
Financial Results by Segment (cont.) |
|||||||||||||||
(In millions, unaudited) |
|||||||||||||||
|
|
|
|
|
|
|
|
||||||||
|
Three Months Ended
|
|
Year Ended
|
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Corporate and Other |
|
|
|
|
|
|
|
||||||||
Revenue |
$ |
351 |
|
|
$ |
325 |
|
|
$ |
1,348 |
|
|
$ |
1,270 |
|
Adjustments: |
|
|
|
|
|
|
|
||||||||
Postage reimbursements |
|
(349 |
) |
|
|
(320 |
) |
|
|
(1,333 |
) |
|
|
(1,247 |
) |
Adjusted revenue |
$ |
2 |
|
|
$ |
5 |
|
|
$ |
15 |
|
|
$ |
23 |
|
|
|
|
|
|
|
|
|
||||||||
Operating loss |
$ |
(552 |
) |
|
$ |
(533 |
) |
|
$ |
(2,167 |
) |
|
$ |
(2,138 |
) |
Adjustments: |
|
|
|
|
|
|
|
||||||||
Merger and integration costs |
|
22 |
|
|
|
35 |
|
|
|
81 |
|
|
|
139 |
|
Severance costs |
|
80 |
|
|
|
22 |
|
|
|
157 |
|
|
|
74 |
|
Amortization of acquisition-related intangible assets |
|
335 |
|
|
|
378 |
|
|
|
1,420 |
|
|
|
1,623 |
|
Net (gain) loss on sale of businesses and other assets |
|
— |
|
|
|
5 |
|
|
|
— |
|
|
|
(167 |
) |
Canadian tax law change |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
27 |
|
Adjusted operating loss |
$ |
(115 |
) |
|
$ |
(93 |
) |
|
$ |
(509 |
) |
|
$ |
(442 |
) |
|
|
|
|
|
|
|
|
||||||||
See pages 3-4 for disclosures related to the use of non-GAAP financial measures. Operating margin percentages are calculated using actual, unrounded amounts. |
||
| 1 | Includes deferred revenue purchase accounting adjustments within the Financial segment related to the 2019 acquisition of First Data Corporation. Adjustments for this residual activity concluded as of December 31, 2023. |
|
| 2 | For all periods presented in the Merchant segment, there were no adjustments to GAAP measures presented and thus the adjusted measures are equal to the GAAP measures presented. |
|
Fiserv, Inc. |
|||||||
Condensed Consolidated Statements of Cash Flows |
|||||||
(In millions, unaudited) |
|||||||
|
Year Ended
|
||||||
|
|
2024 |
|
|
|
2023 |
|
Cash flows from operating activities |
|
|
|
||||
Net income |
$ |
3,180 |
|
|
$ |
3,129 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
||||
Depreciation and other amortization |
|
1,672 |
|
|
|
1,479 |
|
Amortization of acquisition-related intangible assets |
|
1,423 |
|
|
|
1,642 |
|
Amortization of financing costs and debt discounts |
|
43 |
|
|
|
41 |
|
Share-based compensation |
|
367 |
|
|
|
342 |
|
Deferred income taxes |
|
(662 |
) |
|
|
(511 |
) |
Net gain on sale of businesses and other assets |
|
— |
|
|
|
(167 |
) |
Loss from investments in unconsolidated affiliates |
|
685 |
|
|
|
15 |
|
Distributions from unconsolidated affiliates |
|
39 |
|
|
|
55 |
|
Non-cash settlement charge for terminated pension plans |
|
147 |
|
|
|
— |
|
Non-cash foreign currency exchange loss |
|
92 |
|
|
|
76 |
|
Other operating activities |
|
(17 |
) |
|
|
(27 |
) |
Changes in assets and liabilities, net of effects from acquisitions and dispositions: |
|
|
|
||||
Trade accounts receivable |
|
(169 |
) |
|
|
23 |
|
Prepaid expenses and other assets |
|
(398 |
) |
|
|
(790 |
) |
Contract costs |
|
(267 |
) |
|
|
(246 |
) |
Accounts payable and other liabilities |
|
426 |
|
|
|
(54 |
) |
Contract liabilities |
|
70 |
|
|
|
155 |
|
Net cash provided by operating activities |
|
6,631 |
|
|
|
5,162 |
|
|
|
|
|
||||
Cash flows from investing activities |
|
|
|
||||
Capital expenditures, including capitalized software and other intangibles |
|
(1,569 |
) |
|
|
(1,388 |
) |
Net proceeds from sale of businesses and other assets |
|
— |
|
|
|
234 |
|
Merchant cash advances, net |
|
(801 |
) |
|
|
— |
|
Payments for acquisitions of businesses, net of cash acquired |
|
— |
|
|
|
(13 |
) |
Distributions from unconsolidated affiliates |
|
60 |
|
|
|
136 |
|
Purchases of investments |
|
(155 |
) |
|
|
(39 |
) |
Proceeds from sale of investments |
|
61 |
|
|
|
5 |
|
Other investing activities |
|
— |
|
|
|
(3 |
) |
Net cash used in investing activities |
|
(2,404 |
) |
|
|
(1,068 |
) |
|
|
|
|
||||
Cash flows from financing activities |
|
|
|
||||
Debt proceeds |
|
6,783 |
|
|
|
5,567 |
|
Debt repayments |
|
(5,396 |
) |
|
|
(3,015 |
) |
Net borrowings from (repayments of) commercial paper and short-term borrowings |
|
278 |
|
|
|
(1,456 |
) |
Payments of debt financing costs |
|
(28 |
) |
|
|
(38 |
) |
Proceeds from issuance of treasury stock |
|
97 |
|
|
|
101 |
|
Purchases of treasury stock, including employee shares withheld for tax obligations |
|
(5,837 |
) |
|
|
(4,827 |
) |
Settlement activity, net |
|
— |
|
|
|
(527 |
) |
Distributions paid to noncontrolling interests and redeemable noncontrolling interest |
|
(55 |
) |
|
|
(34 |
) |
Payment to acquire noncontrolling interest of consolidated subsidiary |
|
— |
|
|
|
(56 |
) |
Payments of acquisition-related contingent consideration |
|
(3 |
) |
|
|
(35 |
) |
Other financing activities |
|
(4 |
) |
|
|
(36 |
) |
Net cash used in financing activities |
|
(4,165 |
) |
|
|
(4,356 |
) |
Effect of exchange rate changes on cash and cash equivalents |
|
(32 |
) |
|
|
33 |
|
Net change in cash and cash equivalents |
|
30 |
|
|
|
(229 |
) |
Cash and cash equivalents, beginning balance |
|
2,963 |
|
|
|
3,192 |
|
Cash and cash equivalents, ending balance |
$ |
2,993 |
|
|
$ |
2,963 |
|
Fiserv, Inc. |
|||||
Condensed Consolidated Balance Sheets |
|||||
(In millions, unaudited) |
|||||
|
|
|
|
||
|
December 31, |
||||
|
|
2024 |
|
|
2023 |
Assets |
|
|
|
||
Cash and cash equivalents |
$ |
1,236 |
|
$ |
1,204 |
Trade accounts receivable – net |
|
3,725 |
|
|
3,582 |
Prepaid expenses and other current assets |
|
3,087 |
|
|
2,344 |
Settlement assets |
|
15,429 |
|
|
27,681 |
Total current assets |
|
23,477 |
|
|
34,811 |
|
|
|
|
||
Property and equipment – net |
|
2,374 |
|
|
2,161 |
Customer relationships – net |
|
5,868 |
|
|
7,075 |
Other intangible assets – net |
|
4,072 |
|
|
4,135 |
Goodwill |
|
36,584 |
|
|
37,205 |
Contract costs – net |
|
996 |
|
|
968 |
Investments in unconsolidated affiliates |
|
1,506 |
|
|
2,262 |
Other long-term assets |
|
2,299 |
|
|
2,273 |
Total assets |
$ |
77,176 |
|
$ |
90,890 |
|
|
|
|
||
Liabilities and Equity |
|
|
|
||
Accounts payable and other current liabilities |
$ |
4,799 |
|
$ |
4,355 |
Short-term and current maturities of long-term debt |
|
1,110 |
|
|
755 |
Contract liabilities |
|
819 |
|
|
761 |
Settlement obligations |
|
15,429 |
|
|
27,681 |
Total current liabilities |
|
22,157 |
|
|
33,552 |
|
|
|
|
||
Long-term debt |
|
23,730 |
|
|
22,363 |
Deferred income taxes |
|
2,477 |
|
|
3,078 |
Long-term contract liabilities |
|
263 |
|
|
250 |
Other long-term liabilities |
|
863 |
|
|
978 |
Total liabilities |
|
49,490 |
|
|
60,221 |
|
|
|
|
||
Redeemable noncontrolling interest |
|
— |
|
|
161 |
|
|
|
|
||
Fiserv shareholders’ equity |
|
27,068 |
|
|
29,857 |
Noncontrolling interests |
|
618 |
|
|
651 |
Total equity |
|
27,686 |
|
|
30,508 |
Total liabilities and equity |
$ |
77,176 |
|
$ |
90,890 |
|
|
|
|
||
Fiserv, Inc. Selected Non-GAAP Financial Measures and Additional Information (In millions, unaudited) |
||||||||||||||||||||||
Organic Revenue Growth 1 |
|
Three Months Ended
|
|
Year Ended
|
||||||||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
Growth |
|
|
2024 |
|
|
|
2023 |
|
|
Growth |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Total Company |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted revenue |
|
$ |
4,902 |
|
|
$ |
4,600 |
|
|
|
|
$ |
19,123 |
|
|
$ |
17,865 |
|
|
|
||
Currency impact 2 |
|
|
294 |
|
|
|
— |
|
|
|
|
|
1,621 |
|
|
|
— |
|
|
|
||
Acquisition adjustments |
|
|
(1 |
) |
|
|
— |
|
|
|
|
|
(10 |
) |
|
|
— |
|
|
|
||
Divestiture adjustments |
|
|
(2 |
) |
|
|
(5 |
) |
|
|
|
|
(15 |
) |
|
|
(46 |
) |
|
|
||
Organic revenue |
|
$ |
5,193 |
|
|
$ |
4,595 |
|
|
13 |
% |
|
$ |
20,719 |
|
|
$ |
17,819 |
|
|
16 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Merchant |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted revenue |
|
$ |
2,499 |
|
|
$ |
2,261 |
|
|
|
|
$ |
9,631 |
|
|
$ |
8,722 |
|
|
|
||
Currency impact 2 |
|
|
274 |
|
|
|
— |
|
|
|
|
|
1,499 |
|
|
|
— |
|
|
|
||
Acquisition adjustments |
|
|
(1 |
) |
|
|
— |
|
|
|
|
|
(10 |
) |
|
|
— |
|
|
|
||
Organic revenue |
|
$ |
2,772 |
|
|
$ |
2,261 |
|
|
23 |
% |
|
$ |
11,120 |
|
|
$ |
8,722 |
|
|
27 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Financial |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted revenue |
|
$ |
2,401 |
|
|
$ |
2,334 |
|
|
|
|
$ |
9,477 |
|
|
$ |
9,120 |
|
|
|
||
Currency impact 2 |
|
|
20 |
|
|
|
— |
|
|
|
|
|
122 |
|
|
|
— |
|
|
|
||
Divestiture adjustments |
|
|
— |
|
|
|
— |
|
|
|
|
|
— |
|
|
|
(23 |
) |
|
|
||
Organic revenue |
|
$ |
2,421 |
|
|
$ |
2,334 |
|
|
4 |
% |
|
$ |
9,599 |
|
|
$ |
9,097 |
|
|
6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Corporate and Other |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted revenue |
|
$ |
2 |
|
|
$ |
5 |
|
|
|
|
$ |
15 |
|
|
$ |
23 |
|
|
|
||
Divestiture adjustments |
|
|
(2 |
) |
|
|
(5 |
) |
|
|
|
|
(15 |
) |
|
|
(23 |
) |
|
|
||
Organic revenue |
|
$ |
— |
|
|
$ |
— |
|
|
|
|
$ |
— |
|
|
$ |
— |
|
|
|
||
See pages 3-4 for disclosures related to the use of non-GAAP financial measures. Organic revenue growth is calculated using actual, unrounded amounts. |
||
| 1 | Organic revenue growth is measured as the change in adjusted revenue (see pages 9-10) for the current period excluding the impact of foreign currency fluctuations and revenue attributable to acquisitions and dispositions, divided by adjusted revenue from the prior period excluding revenue attributable to dispositions. |
|
| 2 | Currency impact is measured as the increase or decrease in adjusted revenue for the current period by applying prior period foreign currency exchange rates to present a constant currency comparison to prior periods. |
|
Fiserv, Inc. Selected Non-GAAP Financial Measures and Additional Information (cont.) (In millions, unaudited) |
||||||||
Free Cash Flow |
|
Year Ended
|
||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
|
|
|
|
||||
Net cash provided by operating activities |
|
$ |
6,631 |
|
|
$ |
5,162 |
|
Capital expenditures |
|
|
(1,569 |
) |
|
|
(1,388 |
) |
Adjustments: |
|
|
|
|
||||
Distributions paid to noncontrolling interests and redeemable noncontrolling interest |
|
|
(55 |
) |
|
|
(34 |
) |
Distributions from unconsolidated affiliates included in cash flows from investing activities |
|
|
60 |
|
|
|
136 |
|
Severance, merger and integration payments |
|
|
179 |
|
|
|
169 |
|
Tax payments on adjustments |
|
|
(36 |
) |
|
|
(34 |
) |
Other |
|
|
23 |
|
|
|
5 |
|
Free cash flow |
|
$ |
5,233 |
|
|
$ |
4,016 |
|
Total Amortization 1 |
|
Three Months Ended
|
|
Year Ended
|
||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
|
|
|
|
|
|
|
|
|
||||
Acquisition-related intangible assets |
|
$ |
334 |
|
$ |
381 |
|
$ |
1,423 |
|
$ |
1,642 |
Capitalized software and other intangibles |
|
|
167 |
|
|
133 |
|
|
631 |
|
|
493 |
Purchased software |
|
|
57 |
|
|
58 |
|
|
232 |
|
|
225 |
Financing costs and debt discounts |
|
|
10 |
|
|
11 |
|
|
43 |
|
|
41 |
Sales commissions |
|
|
29 |
|
|
27 |
|
|
113 |
|
|
110 |
Deferred conversion costs |
|
|
26 |
|
|
24 |
|
|
108 |
|
|
85 |
Total amortization |
|
$ |
623 |
|
$ |
634 |
|
$ |
2,550 |
|
$ |
2,596 |
See pages 3-4 for disclosures related to the use of non-GAAP financial measures. |
||
| 1 | The company adjusts its non-GAAP results to exclude amortization of acquisition-related intangible assets as such amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size of acquisitions. Management believes that the adjustment of acquisition-related intangible asset amortization supplements the GAAP information with a measure that can be used to assess the comparability of operating performance. Although the company excludes amortization from acquisition-related intangible assets from its non-GAAP expenses, management believes that it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation. Amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Any future acquisitions may result in the amortization of additional intangible assets. |
|
Fiserv, Inc.
Full Year Forward-Looking Non-GAAP Financial Measures
Reconciliations of unaudited non-GAAP financial measures to the most comparable GAAP measures are included in this news release, except for forward-looking measures where a reconciliation to the corresponding GAAP measures is not available due to the variability, complexity and limited visibility of these items that are excluded from the non-GAAP outlook measures. The company’s forward-looking non-GAAP financial measures for 2025, including organic revenue growth, adjusted earnings per share and adjusted earnings per share growth, are designed to enhance shareholders’ ability to evaluate the company’s performance by excluding certain items to focus on factors and trends affecting its business.
Organic Revenue Growth - The company’s organic revenue growth outlook for 2025 excludes the impact of foreign currency fluctuations, acquisitions, dispositions and the impact of the company’s postage reimbursements. The currency impact is measured as the increase or decrease in the expected adjusted revenue for the period by applying prior period foreign currency exchange rates to present a constant currency comparison to prior periods.
|
Growth |
2025 Revenue |
|
Postage reimbursements |
(0.5)% |
2025 Adjusted revenue |
|
|
|
Currency impact |
|
Acquisition adjustments |
—% |
Divestiture adjustments |
—% |
2025 Organic revenue |
|
Adjusted Earnings Per Share - The company’s adjusted earnings per share outlook for 2025 excludes certain non-cash or other items such as non-cash intangible asset amortization expense associated with acquisitions; non-cash impairment charges; merger and integration costs; severance costs; gains or losses from the sale of businesses, certain assets and investments; and certain discrete tax benefits and expenses. The company estimates that amortization expense in 2025 with respect to acquired intangible assets will decrease approximately
Other adjustments to the company’s financial measures that were incurred in 2024 are presented in this news release; however, they are not necessarily indicative of adjustments that may be incurred throughout 2025 or beyond. Estimates of these impacts and adjustments on a forward-looking basis are not available due to the variability, complexity and limited visibility of these items.
FI-G
View source version on businesswire.com: https://www.businesswire.com/news/home/20250205957861/en/
Media Relations:
Sophia Marshall
Senior Vice President, Communications
Fiserv, Inc.
470-351-9908
sophia.marshall@fiserv.com
Investor Relations:
Julie Chariell
Senior Vice President, Investor Relations
Fiserv, Inc.
212-515-0278
julie.chariell@fiserv.com
Source: Fiserv, Inc.
FAQ
What was Fiserv's (FI) organic revenue growth in Q4 2024?
How much did Fiserv (FI) spend on share repurchases in 2024?
What is Fiserv's (FI) earnings guidance for 2025?
What was Fiserv's (FI) operating cash flow for full year 2024?
What was the impact of impairment charges on Fiserv (FI) in 2024?
