Business
Fiserv Reports Fourth Quarter and Full Year 2022 Results
GAAP revenue growth of 9% both in the quarter and for the full year; GAAP EPS increased 146% in the quarter and 96% for the full year; Organic revenue growth
About this update from Fiserv, Inc.
[{"type":"text","content":"\nGAAP revenue growth of 9% both in the quarter and for the full year; GAAP EPS increased 146% in the quarter and 96% for the full year; Organic revenue growth of 12% in the quarter and 11% for the full year; Adjusted EPS increased 22% in the quarter and 16% for the full year; Company expects 2023 organic revenue growth of 7% to 9% and adjusted EPS of $7.25 to $7.40, or growth of 12% to 14%\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 2022.\n\nFourth Quarter and Full Year 2022 GAAP Results\n\nGAAP revenue for the company increased 9% to $4.63 billion in the fourth quarter of 2022 compared to the prior year period, with 9% growth in the Acceptance segment, 7% growth in the Fintech segment and 8% growth in the Payments segment. GAAP revenue for the company increased 9% to $17.74 billion for the full year 2022 compared to the prior year, with 13% growth in the Acceptance segment, 5% growth in the Fintech segment and 7% growth in the Payments segment. GAAP revenue for the fourth quarter and full year 2022 was unfavorably impacted by foreign currency fluctuations.\n\nGAAP earnings per share was $1.23 in the fourth quarter and $3.91 for the full year 2022, an increase of 146% and 96%, respectively, compared to the prior year periods. The fourth quarter and full year 2022 included lower merger and integration costs compared to the prior year periods. GAAP operating margin was 25.5% and 21.1% in the fourth quarter and full year 2022, respectively, compared to 12.5% and 14.1% in the fourth quarter and full year 2021, respectively. Net cash provided by operating activities was $4.62 billion for the full year 2022 compared to $4.03 billion in the prior year.\n\n“Fiserv posted a second consecutive year of double-digit organic revenue growth, outpacing expectations and demonstrating market leadership in a challenging environment,” said Frank Bisignano, Chairman, President and Chief Executive Officer of Fiserv. “Our ability to drive strong growth and margin improvement in a shifting economy is a testament to our commitment to clients, cost discipline and dedicated workforce.”\n\nFourth Quarter and Full Year 2022 Non-GAAP Results and Additional Information\n\n\nAdjuste...