Summary
Fiserv Inc. reported strong financial performance for the nine months ended September 30, 2021, with total revenue increasing by 9% to $11.97 billion and net income attributable to Fiserv, Inc. rising by 52% to $1.00 billion. This growth was driven by a 10% increase in revenue for the third quarter, largely due to the recovery of transaction volumes in its merchant acquiring and payment-related businesses following the impacts of the COVID-19 pandemic. The company also saw significant operating income growth across its segments, particularly in the Acceptance segment, indicating improved operational leverage and expense management. Acquisitions remain a key strategic initiative, with several notable purchases in 2021, including Pineapple Payments and Ondot, aimed at expanding digital capabilities and market reach. Fiserv also continued its share repurchase program, demonstrating a commitment to returning value to shareholders. The company maintained a strong liquidity position, with substantial operating cash flow and an available revolving credit facility, despite some increases in debt levels associated with its growth strategy.
Financial Highlights
49 data points| Revenue | $4.16B |
| SG&A Expenses | $1.48B |
| Operating Expenses | $3.53B |
| Operating Income | $636.00M |
| Interest Expense | $173.00M |
| Net Income | $428.00M |
| EPS (Basic) | $0.65 |
| EPS (Diluted) | $0.64 |
| Shares Outstanding (Basic) | 661.40M |
| Shares Outstanding (Diluted) | 669.70M |
Key Highlights
- 1Total revenue for the nine months ended September 30, 2021, increased by 9% to $11.97 billion, compared to $11.02 billion in the prior year period.
- 2Net income attributable to Fiserv, Inc. for the nine months ended September 30, 2021, surged to $1.00 billion, a 52% increase from $658 million in the prior year.
- 3The company completed several strategic acquisitions in 2021, including Pineapple Payments, Ondot, Spend Labs, and Radius8, to enhance its product and service offerings.
- 4Operating income for the nine months increased by 31% to $1.76 billion, with significant growth in the Acceptance segment.
- 5Diluted earnings per share for the nine months ended September 30, 2021, were $1.49, a substantial increase from $0.96 in the prior year.
- 6Fiserv continued its share repurchase program, spending $1.57 billion on repurchases in the first nine months of 2021.
- 7The company ended the period with a strong liquidity position, including $933 million in cash and cash equivalents and substantial availability under its revolving credit facility.