Fiserv Payments Revs Up 6 Pct, While eComm Gains Double Digits

| November 6, 2019

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Fiserv reported results for the third quarter that, in the wake of its acquisition of First Data, showed progress on realizing revenue synergies and growth in sales of its Clover offering. The company posted adjusted earnings of $1.02, which topped consensus of 99 cents.  The consolidated top line was $3.9 billion, better than the $3.8 billion expected. Drilling down into results, CEO Jeff Yabuki said that the first quarter of the combined company showed that “our integration activities are progressing well.” Internal revenue growth was 6 percent, led by 10 percent growth in the firm’s Global Business Solutions merchant business.  He said that account processing saw 14 new clients in the quarter. The cloud-based point of sale (POS) platform Clover crossed the $100 billion threshold in annualized payment volume in the quarter, a more than 40 percent gain year over year.

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