Business
Fiserv Reports Fourth Quarter and Full Year 2019 Results
GAAP revenue growth of 161% in the quarter and 75% for the year; GAAP EPS decrease of 49% in the quarter and 40% for the year; Internal revenue growth of 5%
About this update from Fiserv, Inc.
[{"type":"text","content":"\nGAAP revenue growth of 161% in the quarter and 75% for the year;\nGAAP EPS decrease of 49% in the quarter and 40% for the year;\nInternal revenue growth of 5% in the quarter and 6% for the year;\nAdjusted EPS increase of 18% in the quarter and 16% for the year;\nCompany expects 2020 internal revenue growth of 6% to 8%\nand adjusted EPS growth of 23% to 27%\n\n BROOKFIELD, Wis.--(BUSINESS WIRE)--\nFiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, today reported financial results for the fourth quarter and full year 2019.\n\n\nFourth Quarter and Full Year 2019 GAAP Results\n\n\nOn a GAAP basis, the financial results of First Data Corporation (\"First Data\") are included in the consolidated results of Fiserv, Inc. from July 29, 2019, the date of acquisition. GAAP revenue for the company increased 161% to $4.05 billion in the fourth quarter of 2019 compared to the prior year period, with $2.46 billion from the First Data segment, 5% growth in the Payments segment and 1% decline in the Financial segment. Full year 2019 GAAP revenue for the company increased 75% to $10.19 billion compared to the prior year, with $4.08 billion from the First Data segment, 8% growth in the Payments segment and 1% growth in the Financial segment.\n\n\nGAAP earnings per share was $0.36 in the fourth quarter of 2019 and $1.71 for the full year, decreasing 49% and 40%, respectively, compared to the prior year periods. GAAP earnings per share in 2019 included transaction and related integration costs and acquired intangible asset amortization from the application of purchase accounting associated with the First Data acquisition. GAAP earnings per share in 2018 included a gain on the sale of a 55% interest of the company's Lending Solutions business (the \"Lending Transaction\").\n\n\nGAAP operating margin was 11.8% and 15.8% in the fourth quarter and full year 2019, respectively, compared to 27.8% and 30.1% in the fourth quarter and full year 2018, respectively. GAAP operating margin in 2019 included the operating margin impacts from transaction and related integration costs and acquired intangible asset amortization associated with the acquisition of First Data. GAAP operating margin in 2018 included a $227 million gain resulting from the Lending Transaction.\n\n\nNet cash provided by operatin...