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Fiserv shares rose 6.7% in morning trade on Wednesday and touched a record high after the company’s fourth-quarter earnings topped Wall Street estimates.
On an adjusted basis, the fintech firm reported earnings of $2.51 per share for the three months ending Dec. 31, compared with the market estimate of $2.48 per share, according to FinChat data.
The company’s quarterly revenue rose 7% to $5.25 billion, driven by robust growth in its Merchant Solutions and Financial Solutions segment.
Adjusted revenue in its Merchant Solutions unit, which allows businesses to accept electronic payments, rose 11% to $2.5 billion compared to the year-ago quarter.
The company said its small business revenue grew by 12% while enterprise sales rose by 15%. These gains were slightly offset by a 5% decline in processing revenue.
The Financial Solutions unit saw adjusted revenue rise 3% to $2.40 billion, fueled by a rise in digital payments and banking revenue.
Fiserv forecasts 2025 adjusted earnings per share of $10.10 to $10.30, representing a growth of 15% to 17%.
Retail sentiment on Stocktwits surged to ‘extremely bullish’ (94/100) territory from ‘neutral’(45/100) a day ago, while retail chatter jumped to ‘extremely high.’
One user set a price target of $230 for the stock by the end of the week.
The company had said on Monday that consumer spending at small businesses remained strong in January, with sales and transactions growing year over year.
Over the past year, Fiserv stock has gained 48.6%.
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