Fiserv's Q1 Revenue Soars 10% YoY to $4.55 Bn

Fiserv, Inc.​, a leading global provider of payments and financial services technology solutions, on Tuesday disclosed that it has generated revenue of $4.55 billion in the first quarter of 2023. This figure was 10% higher over Q1 2022.

Specifically, the revenue growth in Acceptance, Fintech and Payments segments were 12%, 2% and 11%, respectively.

Earnings per share for the quarter came in at $0.89, falling 13% on a yearly basis. Operating margin remained unchanged compared to that of the last same period, standing at 20.5%. Net cash provided by operating activities surged from Q1 2022‘’s $815 million to $1.13 billion.

Q1 2023 included a $91 million pre-tax net gain related to certain equity investment transactions.

"Our strong first quarter results reflect our leadership position and focused execution in an uncertain economic environment," said Frank Bisignano, Chairman, President and Chief Executive Officer of Fiserv. 'Our Merchant business continued to outperform, while our Payments and Fintech segments demonstrated the depth of our financial institution client partnerships, as we provided support and innovation through a volatile period.“”

All the financial figures are based on GAAP.

The company has raised its 2023 organic revenue and adjusted EPS guidance based on its strong first quarter results, added Bisignano.