Business
Fiserv Reports Third Quarter 2021 Results
GAAP revenue increased 10% in the quarter and 9% year to date; GAAP EPS increased 64% in the quarter and 55% year to date; Internal revenue growth was 10% in
About this update from Fiserv, Inc.
[{"type":"text","content":"\nGAAP revenue increased 10% in the quarter and 9% year to date;\nGAAP EPS increased 64% in the quarter and 55% year to date;\nInternal revenue growth was 10% in the quarter and 11% year to date;\nAdjusted EPS increased 23% in the quarter and 29% year to date;\nCompany now expects 2021 internal revenue growth outlook of 11% and\nimproves adjusted EPS growth outlook to $5.55 to $5.60\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 third quarter of 2021.\n\nThird Quarter 2021 GAAP Results\n\nGAAP revenue for the company increased 10% to $4.16 billion in the third quarter of 2021 compared to the prior year period, 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 prior year period, with 17% growth in the Acceptance segment, 4% growth in the Fintech segment and 5% growth in the Payments segment.\n\nGAAP earnings per share was $0.64 in the third quarter and $1.49 in the first nine months of 2021, an increase of 64% and 55%, respectively, compared to the prior year periods. GAAP operating margin was 15.3% and 14.7% in the third quarter and first nine months of 2021, respectively, compared to 14.3% and 12.1% in the third quarter and first nine months of 2020, respectively. Net cash provided by operating activities was $2.69 billion in the first nine months of 2021 compared to $2.96 billion in the prior year period.\n\n\"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.\n\nThird Quarter 2021 Non-GAAP Results and Additional Information\n\n\nAdjusted revenue increased 10% to $3.96 billion in the third quarter and 11% to $11.37 billion in the first nine months of 2021 compared to the prior year periods.\n\n\nInternal revenue growth (organic, constant currency) was 10% in the third quarter of 2021, led by 18% growth in the Acceptance segment, 4% growth in the Fintech segment and 6% growth in the Payments segment.\n\n\nInter...