Fintech
Revenue surge beats expectations, raises full-year forecast
Fintech Fiserv’s Q2 Earnings: Revenue Rise Beats Expectations, Raises Full-Year Forecast
Fiserv, Inc (London share:I.F.) reported fiscal second-quarter results, with revenue up 7% year-over-year to $5.11 billion, beating the Analysts’ consensus estimate of $4.82 billionAdjusted revenue increased 7% year over year to $4.79 billion.
Adjusted EPS of $2.13 beat the Analyst consensus estimate of $2.10.
Read also: Fiserv Hires Former JP Morgan Exec Takis Georgakopoulos as Senior Advisor: Details
Adjusted EPS increased 18% to $1.81 from the year-ago period. The stock price rose after the press.
Organic revenue grew 18%, driven by 28% growth in Merchant Solutions and 8% growth in Financial Solutions.
Adjusted operating margin increased 160 basis points year over year to 38.4%. Adjusted operating margin increased 290 basis points year over year to 36.6% in the Merchant Solutions segment and was unchanged at 45.9% in the Financial Solutions segment.
Chairman and CEO Frank Bisignano said, “Fiserv’s integrated solutions, deep customer relationships and strategic positioning continue to drive our industry leadership.”
Outlook for Fiscal Year 2024: Accordion Service repeated organic turnover growth of 15%-17% and raised its adjusted EPS forecast to $8.65-$8.80 (previously $8.60-$8.75), representing 15%-17% year-over-year growth versus Consensus of $8.71.
Fiserv shares have gained more than 21% over the past 12 months.
Fiserv Stock Prediction 2024
Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for stock price trajectories.
Some investors look at trends to predict where they think a stock might be trading at a certain time in the future. Looking at Fiserv, an investor might make an assessment of a stock’s long-term prospects using a moving average and a trend line. If they believe a stock will stay above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For Fiserv, the 200-day moving average sits at $141.57, according to Benzinga Prowhich is below the current price of $160.72. For more information on charts and trend lines, see a description here.
Traders believe that when a stock is above its moving average, it is generally a bullish signal, and when it crosses below, it is a more negative signal. Investors can use trend lines to make an educated guess as to where a stock might trade at a later date if conditions remain stable.
Price Action: FI shares were up 2.34% at $160.90 at last check Wednesday.
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This article Fintech Fiserv’s Q2 Earnings: Revenue Rise Beats Expectations, Raises Full-Year Forecast originally appeared on Benzinga.com
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