Fiserv, Inc. (NASDAQ: FISV), a financial technology firm, presented its first-quarter 2022 results report, which showed triple-digit profits growth. Despite global instability, Fiserv (FISV) aims to raise earnings by 15-17% this year.
Fiserv’s (FISV) sales rose 10% year over year to $4.14 billion in the third quarter, with the payment acceptance sector, which includes POS equipment and processing, seeing the most growth (+ 18%). Sales in the Fintech and Payments divisions also grew by 6% and 4%, respectively.
GAAP profits per share increased by 127% to $1.02. The operating margin increased to 20.5%. The corporation repurchased more than 5 million shares for a total of $500 million in the first quarter.
Fiserv offers a comprehensive range of physical and online trading services, as well as technology for a variety of service providers, such as card issuers. The Fiserv Clover point-of-sale platform enables you to swiftly manage payment acceptance using any technology, develop membership programs and gift cards, and improve customer experience, among other things.
Fiserv’s (FISV) benefit is that it can provide all-in-one solutions, which appeal to shops and other businesses looking to create a payment infrastructure rapidly. Fiserv (FISV) caters to both large and small companies.
Fiserv is a member of the S&P 500 index and has been named one of FORTUNE’s most innovative businesses twice.
Fiserv’s management thinks that a diverse array of products will help the company retain a healthy financial position in 2022. Because the start of the year was better than predicted, the business has kept its projection unchanged, predicting organic sales growth of 7-9% for the whole year and profits per share of $6.4 to $6.55.
The share was for $100.93 at trading on April 27. The stock has a market capitalization of $68.26 billion dollars. The stock has a year-to-date return of -2.76%. Its seven-day performance, however, is -0.55%.