Fiserv shares surged to an all-time high after the payments company reported better-than-expected earnings for the quarter. Revenue increased 7% to $5.25 billion, exceeding analyst estimates. Clover revenue, a key driver of growth, jumped 29% year-over-year. Fiserv projects 10% to 12% revenue growth for 2025.
Fiserv shares rose to a record on Wednesday after the payments company reported better-than-expected earnings.reportedThe stock closed at $229.53, exceeding its previous high reached in November, and is now up about 60% over the past year. Fiserv , which went public in 1986, provides digital payments technology to small businesses and financial institutions.adjusted earnings of $2.51 in the quarter, exceeding the average analyst estimate of $2.48, according to LSEG.
"The strength of the company is the construction of the company that we built by putting First Data and Fiserv together which others tried, but they then didn't get there," Bisignano said. He added that the integration allowed the company to serve small businesses as well as major enterprises such as McDonald's and Walmart, along with nearly every bank in the country.
After the report, Mizuho reaffirmed its buy recommendation, citing Fiserv's distribution network and Clover's outperformance.
Earnings Payments Technology Clover Fiserv
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fiserv Shares Soar to Record High on Strong Earnings ReportFiserv, a leading digital payment technology provider, saw its shares reach an all-time high on Wednesday following the release of its impressive quarterly earnings report. The company exceeded analysts' expectations on both revenue and earnings, fueled by the strong performance of its Clover business.
Read more »
Fiserv shares rally to record on earnings beat, bullish revenue outlookShares of payments company Fiserv rose to a record on Wednesday after reporting better-than-expected earnings.
Read more »
Fiserv Shares Soar to Record High on Strong Earnings and Clover GrowthFiserv exceeded analyst expectations with its second-quarter earnings report, driven by robust growth in its Clover business. The company's CEO highlighted the strength of its integrated structure and its extensive network of bank relationships as key drivers of future growth.
Read more »
Alphabet Shares Hit Record High on AI OptimismAlphabet Inc.'s stock reached a new milestone, closing at $200 per share for the first time, fueled by investor confidence in the company's artificial intelligence (AI) capabilities. Despite regulatory challenges and increased competition, analysts remain optimistic about Google's AI prospects, citing advancements in products like Project Astra, Project Mariner, and Gemini 2.0. The company's third-quarter revenue also saw significant growth, driven by record cloud revenue.
Read more »
Nvidia Shares Surge on AI Demand as Foxconn Reports Record RevenueNvidia's stock continues its upward trajectory, fueled by strong demand in the artificial intelligence sector. Foxconn's record fourth-quarter revenue, driven by growth in cloud and networking products, including AI servers, further underscores the industry's momentum.
Read more »
Nvidia Shares Surge to Record High on Gaming Chip and AI AdvancementsNvidia's stock skyrocketed after CEO Jensen Huang unveiled new gaming chips and hinted at breakthroughs in robotics powered by AI. The company showcased its GeForce RTX 50-series chips, built on the same architecture as its AI processors, promising twice the speed.
Read more »