Net income was 14.12% up, hitting $683m in Q2 2023 compared to Q2 2022. Overall, Fiserv’s net income for the first six months to June 2023 stood at $1.27bn, $20m lower than the same period last year ($1.29bn).
In addition, adjusted earnings per share increased 16% to $1.81 in the second quarter and 14% to $3.38 in the first six months of 2023 compared to the prior year periods. Adjusted operating margin increased 300 basis points to 36.5% in Q2 2023 and 240 basis points to 35.1% in the first six months of 2023 compared to last year.
Go deeper with GlobalData
Chairman, President and CEO of Fiserv Frank Bisignano said: “We delivered our ninth consecutive quarter of double-digit organic revenue growth, as we sustained our momentum in merchant acceptance and expanded our digital payments proposition for financial institutions.
“The strength and breadth of our products, clients, distribution and geographies continue to drive this standout performance”, he continued.
Following the posting of results, Fiserv raised its outlook for 2023, with company officials now expecting organic revenue growth to reach 11% and adjusted earnings per share to $7.50 (up from $7.40).
Fiserv is an American fintech with nearly 10,000 financial institution clients, enabling over 12,000 financial transactions per second.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataIn June, the company completed the transfer of its stock exchange listing to the New York Stock Exchange.
