Fiserv: 1Q Earnings Snapshot

BROOKFIELD, Wis. (AP) – Fiserv Inc. (FISV) on Tuesday reported first-quarter net income of $423 million.

The Brookfield, Wisconsin-based company said it had profit of $1 per share. Earnings, adjusted for non-recurring gains, came to 76 cents per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.

The financial services technology company posted revenue of $1.44 billion in the period, which met Street forecasts.

Fiserv expects full-year earnings in the range of $3.02 to $3.15 per share.

Fiserv shares have risen slightly more than 9 percent since the beginning of the year, while the Standard & Poor’s 500 index has dropped almost 1 percent. In the final minutes of trading on Tuesday, shares hit $71.70, a climb of 20 percent in the last 12 months.