Fiserv Inc (STU:FIV)
€ 193.38 -3.46 (-1.76%) Market Cap: 110.73 Bil Enterprise Value: 133.82 Bil PE Ratio: 40.17 PB Ratio: 4.29 GF Score: 87/100

Q3 2024 Fiserv Inc Earnings Call Transcript

Oct 22, 2024 / 12:00PM GMT
Release Date Price: €184.66 (+1.52%)

Key Points

Positve
  • Fiserv Inc (FI) reported a strong quarter with adjusted earnings per share of $2.30, up 17% year-over-year.
  • The company achieved organic revenue growth of 15% and adjusted operating margin expansion to 40.2%.
  • Fiserv Inc (FI) returned $1.3 billion to shareholders through share repurchases.
  • The company announced strategic partnerships with DoorDash and Walmart, enhancing its embedded finance and real-time payment capabilities.
  • Clover, a key product in the merchant solutions segment, saw revenue growth of 28% and value-added services penetration increased to 21%.
Negative
  • The company faces currency headwinds, particularly from the Argentine peso, impacting adjusted revenue growth.
  • Organic revenue growth in the processing segment declined by 1%, indicating challenges in this area.
  • The transitory contribution from excess inflation in Argentina is expected to ease, potentially impacting future growth rates.
  • Consumer spending growth has slowed, affecting payment volume growth in the small business segment.
  • The company anticipates continued headwinds from foreign currency exchange, impacting adjusted revenue growth.
Operator

Welcome to the Fiserv third quarter 2024 earnings conference call. (Operator Instructions) As a reminder, today's call is being recorded. I would now like to turn the call over to Julie Chariell, Senior Vice President of Investor Relations at Fiserv.

Julie Chariell
Fiserv Inc - SVP, IR

Thank you and good morning. With me on the call today are Frank Bisignano, our Chairman, President and Chief Executive Officer; and Bob Hau, our Chief Financial Officer.

Our earnings release and supplemental materials for the quarter are available on the Investor Relations section of fiserv.com. Please refer to these materials for an explanation of non-GAAP financial measures discussed on this call, along with a reconciliation of those measures to the nearest applicable GAAP measures.

Unless otherwise stated, performance references are year-over-year comparisons. Our remarks today will include these forward-looking statements about, among other matters, expected operating and financial results and strategic initiatives. Forward-looking statements may differ

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