Fiserv (FISV) reported adjusted earnings of $1.16 per share for 4Q16—slightly higher than analysts’ estimates of $1.14 and 21% higher year-over-year. The company’s revenues for the quarter totaled $1.4 billion, which was 5% higher YoY (year-over-year), driven by its Payments segment.
Jeffery Yabuki, Fiserv’s President and Chief Executive Officer, stated: “Results in 2016 were punctuated by our 31st consecutive year of double-digit adjusted earnings per share growth, operating margin expansion and excellent free cash flow…Our strong sales performance sets us up to accelerate internal revenue growth in 2017.”
For fiscal 2017, Fiserv expects organic revenues growth of 4%–5% and EPS (earnings per share) of $5.03–$5.17, representing a growth of 14%–17% over 2016.
Yabuki added: “We enter 2017 with market momentum and a focus on providing high-value, differentiated experiences that enhance growth for our clients and value for our shareholders.”
Fiserv (FISV) holds a leading position in the payment processing and financial solutions business in the United States. The company has a strong customer base driven by contract wins from Citizens Bank, U.S. Bank, and Swift. It also continues to add clients to its Mobilite ASP business, which is expected to be a major growth driver. Accretive acquisitions have played a major part in the company’s growth over the years.