“Outstanding sales” boost Fiserv revenue
Jeffery Yabuki, president and CEO of Fiserv
Fiserv’s GAAP revenue increased 5% in the third quarter to $1.38 billion, with 8% growth in its payments segment and 2% growth in the financial segment, compared to Q3 2015.
The firm also released figures for the first nine months of 2016, with GAAP revenue rising 5% to $4.07 billion, with 8% growth in the payments segment and 1% growth in the financial segment, compared to the prior year period.
Jeffery Yabuki, president and CEO of Fiserv, says: “Outstanding sales results in the quarter should provide additional market momentum and growth.”
The latest results follow on from its healthy Q2 results, where its GAAP revenue increased 5% to $1.36 billion. Compared to Q2 2015, its payments segment saw 9% growth and the financial segment grew 1%.
In its outlook forecast, Fiserv expects 2016 internal revenue growth of 4% and adjusted earnings per share in a range of $4.43 to $4.46, which represents 14 to 15% growth over 2015.
From Nebraska to Sri Lanka
In the last few months, Fiserv has made some notable deals.
Nebraska-based Farm Credit Services of America chose Fiserv’s DNA core account processing platform to support its agricultural lending operations.
Randolph Savings Bank, a Massachusetts-based community bank, renewed its long-term contract with Fiserv for a host of back and front office solutions. The renewal was spurred on by the bank’s IPO.
Badlands Federal Credit Union, based in Montana, and Danville City Employees Federal Credit Union, based in Virginia, will use the Software-as-a-Service (SaaS) suites. The solutions will be customised for each of them.
The action is not confined to the US. Merchant Bank of Sri Lanka (MBSL) signed for Fiserv’s Signature back office system and the Teller front-end solution.
