By Mackenzie Tatananni
Fiserv stock was headed for its largest same-day percentage decrease on record after the financial services company slashed its full-year outlook.
The company said it now sees adjusted earnings between $8.50 and $8.60 a share. This compares to a forecast from July, when the company said it expected earnings in the range of $10.15 to $10.30. The new outlook was sharply below Wall Street's projections: analysts tracked by FactSet were looking for adjusted earnings of $10.15.
Shares sank 44% to $55.37 on Wednesday, putting the stock on pace for its lowest close since Jan. 3, 2019, when it ended the session at $70.11, according to Dow Jones Market Data.
For the third quarter, Fiserv posted adjusted earnings of $2.04 a share, missing the $2.64 analysts had forecast. While revenue grew slightly to $5.26 billion in the quarter, this number came in below the $5.35 billion consensus among analysts polled by FactSet.
Organic growth also ticked up 1%, but this marked a slowdown from the 8% growth seen a quarter earlier.
The company also announced a handful of leadership shake-ups including naming a new finance chief and co-presidents.
Jefferies analysts led by Trevor Williams remarked that the magnitude of the earnings miss and guidance cut was "difficult to comprehend" in a research note Wednesday. "We would not be surprised to see the stock down 40%+ today," they added.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com
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October 29, 2025 09:50 ET (13:50 GMT)
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