10-QPeriod: Q3 FY2025

FISERV INC Quarterly Report for Q3 Ended Sep 30, 2025

Filed October 30, 2025For Securities:FISV

Summary

Fiserv, Inc. (FISV) reported solid revenue growth and increased net income for the nine months ended September 30, 2025, compared to the same period in 2024. Total revenue increased by 5% to $15.9 billion, driven by a strong 16% growth in the Product revenue segment and a 2% increase in Processing and services revenue. Net income attributable to Fiserv, Inc. rose by 22% to $2.67 billion, leading to a diluted Earnings Per Share (EPS) of $4.83, up from $3.74 in the prior year. The company also completed several strategic acquisitions during the period, including Payfare, CCV Group, and others, aimed at expanding its embedded finance capabilities and payment solutions network. Despite overall positive financial performance, the company experienced a 10% decrease in operating income for the third quarter of 2025 compared to the prior year, primarily due to a significant decline in the Financial segment's operating income and increased expenses. However, for the nine-month period, operating income saw an 8% increase. The company also saw a substantial increase in interest expense, reflecting its debt financing activities, including significant senior note issuances. Fiserv continues to execute its "One Fiserv" action plan, focusing on client-centricity, innovation, and disciplined capital allocation.

Financial Highlights

49 data points
Beta

Revenue

$5.26B

Net Income

$792.00M

15.0% Net Margin

EPS (Diluted)

$1.46

Total Assets

$79.37B

Cash & Equivalents

$1.07B

Free Cash Flow

$1.30B

Financial Statements
Beta
Revenue$5.26B
SG&A Expenses$1.76B
Operating Expenses$3.83B
Operating Income$1.44B
Interest Expense$432.00M
Net Income$792.00M
EPS (Basic)$1.46
EPS (Diluted)$1.46
Shares Outstanding (Basic)540.20M
Shares Outstanding (Diluted)541.80M

Key Highlights

  • 1Total revenue increased 5% to $15.9 billion for the nine months ended September 30, 2025.
  • 2Net income attributable to Fiserv, Inc. grew 22% to $2.67 billion for the nine months ended September 30, 2025.
  • 3Diluted EPS increased to $4.83 for the nine months ended September 30, 2025, from $3.74 in the prior year.
  • 4Product revenue saw significant growth of 16% for the nine months ended September 30, 2025.
  • 5The company completed several strategic acquisitions, including Payfare and CCV Group, to expand its service offerings.
  • 6Interest expense, net, increased by 28% for the nine months ended September 30, 2025, due to debt financing activities.
  • 7Operating income for the nine months ended September 30, 2025, increased by 8% to $4.53 billion, though the third quarter saw a 10% decrease.

Frequently Asked Questions

The primary driver of revenue growth was a 16% increase in Product revenue, which contributed significantly to the overall 5% increase in total revenue to $15.9 billion for the nine months ended September 30, 2025. Processing and services revenue also saw a modest increase of 2%.

Fiserv's profitability improved significantly, with Net income attributable to Fiserv, Inc. increasing by 22% to $2.67 billion for the nine months ended September 30, 2025. This translated to a higher diluted EPS of $4.83 compared to $3.74 in the prior year. However, operating income in the third quarter of 2025 decreased by 10% year-over-year, though it increased by 8% for the nine-month period.

Fiserv experienced a substantial increase in interest expense, net, of 28% for the nine months ended September 30, 2025. This is primarily attributed to recent debt financing activities, including multiple significant senior note issuances totaling billions of dollars, to fund general corporate purposes, share repurchases, and acquisitions.

Fiserv actively pursued strategic acquisitions throughout the period. Key acquisitions include Payfare, CCV Group, and others, aimed at enhancing embedded finance capabilities, expanding its payment solutions network, and strengthening its Clover platform. The company also has agreements to acquire StoneCastle and has acquired a portion of TD Bank's merchant processing business in Canada.