Fiserv Inc. shares plummeted over 42% on Wednesday after the fintech company reported weaker-than-expected third-quarter results and slashed its full-year guidance.
Fiserv's revenue rose 1% to $5.26 billion, missing estimates, while adjusted earnings per share (EPS) fell 11% to $2.04. The company now expects 2025 adjusted EPS between $8.50 and $8.60, down from a prior $10.15-$10.30 range, and organic revenue growth of 3.5% to 4% versus the previously forecast 10%.
CEO Mike Lyons said Fiserv's performance "is not where we want it to be," announcing the One Fiserv action plan to improve execution and strengthen client focus. The company also appointed new executives.
https://breakingthenews.net/Article/Fiserv-plunges-over-42-after-earnings-miss/65075036
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