Stock Track | Fiserv Plunges 7% in Pre-market on Q2 Earnings Miss, Weak FY Outlook

Stock Track

08/06

Shares of Fiserv Inc (FISV) tumbled 7.02% in pre-market trading on Thursday after the fintech company reported second-quarter results that fell short of analyst expectations and issued a disappointing full-year profit forecast.

The company posted adjusted earnings per share of $1.84 for the second quarter, missing the IBES consensus estimate of $1.91. Revenue came in at $5.29 billion, while net income was $630 million, or $1.17 per share on a GAAP basis.

However, the bigger concern for investors was Fiserv's forward guidance. The company provided a full-year adjusted EPS outlook of $7.20 to $7.40, which was significantly below the IBES estimate of $8.10, signaling a weaker-than-expected profit trajectory for the remainder of the year.

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