Thu, Jul 25, 11:09 AM (44 days ago)
Fiserv, Inc.'s Q2 2024 10-Q report shows a 7% YoY revenue increase to $5.1 billion, driven by higher global processing revenue in both Merchant and Financial segments. Merchant revenue rose 9%, led by Small Business and Enterprise growth. Financial revenue grew 6%, with significant contributions from Digital Payments and Issuing. Operating income surged 26% to $1.4 billion, with a 420 bps margin improvement to 28%, due to scalable revenue growth and reduced amortization of acquisition-related intangibles. Net income attributable to Fiserv, Inc. increased 31% to $894 million, with diluted EPS rising to $1.53 from $1.10. The company repurchased $3.0 billion in shares YTD and issued $2.0 billion in senior notes in March 2024. Total debt stands at $25.5 billion, with $1.1 billion available under its revolving credit facility. Future impacts include ongoing foreign currency volatility and economic conditions.