Fiserv Raises FY21 Outlook

Fintech and payments company Fiserv Inc. (FISV) on Tuesday raised its outlook for full year 2021. The company now expects adjusted earnings per share between $5.50 and $5.60, a growth of 24 percent to 27 percent for the year ahead. Earlier, Fiserv was expecting adjusted earnings of $5.35-$5.50 per share.

On average, 33 analysts polled by Thomson Reuters expect the company to post earnings of $5.45 per share in fiscal 2021.

Additionally, the company also now expects internal revenue growth between 10 percent and 12 percent.

In the second quarter, the company posted net income of $269 million or $0.40 per share, up from $2 million in the same period last year.

Excluding items, Fiserv reported adjusted earnings of $921 million or $1.37 per share, compared to $631 million or $0.93 per share a year ago.

Second-quarter revenues rose to $4.05 billion from $3.47 billion in the prior-year period.

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