Nasdaq-listed global provider of Payments and financial services technology solutions, Fiserv announced its financial numbers for Q3 of 2021 today. The company saw a jump of nearly 10% in its adjusted revenue. Other metrics including internal revenue growth and adjusted earnings per share also increased substantially.
In the recent quarter, Fiserv’s adjusted revenues touched $3.96 billion. Adjusted earnings per share (EPS) spiked 23% to $1.47 during the mentioned period. The company’s adjusted operating margin climbed 130 basis points to 34.2% in Q3 of 2021.
During the last three months, Fiserv repurchased nearly 3.2 million shares of common stock for $365 million. For the first nine months of 2021, the financial services technology solutions provider repurchased a total of 13.4 million shares of common stock for $1.57 billion.
“GAAP revenue for the company increased 10% to $4.16 billion in the third quarter of 2021 compared to the [period] last year, with 18% growth in the Acceptance segment, 5% growth in the Fintech segment, and 6% growth in the Payments segment. GAAP revenue for the company increased 9% to $11.97 billion in the first nine months of 2021 compared to the [period] last year, with 17% growth in the Acceptance segment, 4% growth in the Fintech segment, and 5% growth in the Payments segment,” Fiserv mentioned.
In Q3 of 2021, Fiserv announced the selection of New Jersey as a location for its expansion.
Outlook
In the recent announcement, Fiserv increased its EPS outlook to a range of $5.55 to $5.60. In contrast, the company tightened its full-year outlook for internal revenue growth to 11%. "We posted another strong quarter of double-digit adjusted revenue and adjusted EPS growth as we continue to invest in organic and inorganic growth and demonstrate unmatched Execution ," said Frank Bisignano, President and Chief Executive Officer of Fiserv.
"Given our strong financial results year to date and increased visibility in the fourth quarter, we are tightening our internal revenue growth and adjusted EPS outlook," Bisignano added.
In June 2021, Deutsche Bank partnered with Fiserv for a joint venture to facilitate payment acceptance in Germany.
