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- GAAP revenue growth of 5% and organic revenue growth of 7%;
- GAAP EPS increased 22% and adjusted EPS increased 14%;
- Company affirms 2025 organic revenue growth outlook of 10% to 12% and adjusted EPS outlook of $10.10 to $10.30, or growth of 15% to 17%
Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology solutions, today reported financial results for the first quarter of 2025.
First Quarter 2025 GAAP Results
GAAP revenue for the company increased 5% to $5.13 billion in the first quarter of 2025 compared to the prior year period, with 5% growth in the Merchant Solutions segment and 6% growth in the Financial Solutions segment.
GAAP earnings per share was $1.51 in the first quarter of 2025, an increase of 22% compared to the first quarter of 2024. GAAP operating margin was 27.2% in the first quarter of 2025 compared to 24.2% in the first quarter of 2024. GAAP operating margin was 34.2% in the Merchant Solutions segment and 47.5% in the Financial Solutions segment in the first quarter of 2025, compared to 34.1% and 44.1% in the first quarter of 2024, respectively. Net cash provided by operating activities was $648 million in the first quarter of 2025 compared to $831 million in the prior year period.
“First quarter adjusted earnings per share results exceeded expectations, and demonstrate once again, the resilience, consistency and sustainable growth of the Fiserv franchise,” said Frank Bisignano, Chairman and Chief Executive Officer of Fiserv. “The construction of the company is what makes Fiserv differentiated, successful and future-proofed, with two market-leading segments — Merchant and Financial Solutions — that are naturally positioned to serve business and financial institution clients as they are increasingly interconnected.”
First Quarter 2025 Non-GAAP Results and Additional Information
- Adjusted revenue increased 5% to $4.79 billion in the first quarter of 2025 compared to the prior year period.
- Organic revenue growth was 7% in the first quarter of 2025, led by 8% growth in the Merchant Solutions segment and 6% growth in the Financial Solutions segment.
- Adjusted earnings per share increased 14% to $2.14 in the first quarter of 2025 compared to the prior year period.
- Adjusted operating margin increased 200 basis points to 37.8% in the first quarter of 2025 compared to the prior year period.
- Adjusted operating margin increased 10 basis points to 34.2% in the Merchant Solutions segment and 340 basis points to 47.5% in the Financial Solutions segment in the first quarter of 2025, compared to the prior year period.
- Free cash flow was $371 million in the first quarter of 2025 compared to $454 million in the prior year period.
- The company repurchased 9.7 million shares of common stock for $2.2 billion in the first quarter of 2025.
- In March, the company acquired Payfare Inc., a Canada-based provider of program management solutions powering instant access to earnings and banking solutions for workforces, and CCV Group B.V., a Netherlands-based supplier of point-of-sale payment solutions.
- In April, Fiserv reached agreements to acquire Pinch Payments NZ Limited, an Australia-based solutions provider for payment facilitators, and Money Money Serviços Financeiros S.A., a Brazil-based fintech that enables small businesses to access working capital.
- In April, the company announced a plan to open a 2,000-employee fintech hub in Overland Park, Kansas.
Outlook for 2025
Fiserv continues to expect organic revenue growth of 10% to 12% and adjusted earnings per share of $10.10 to $10.30, representing growth of 15% to 17%, for 2025.
“We are off to a good start in 2025 with a series of large client wins, four strategic acquisitions, and a focus on execution and growth,” said Mike Lyons, President and incoming CEO of Fiserv. “We are maintaining our guidance for 2025, with anticipated acceleration in the back-half of the year reflecting the timing of our key strategic initiatives.”
Earnings Conference Call
The company will discuss its first quarter 2025 results in a live webcast at 7 a.m. CT on Thursday, April 24, 2025. The webcast, along with supplemental financial information, can be accessed on the investor relations section of the Fiserv website at investors.fiserv.com. A replay will be available approximately one hour after the conclusion of the live webcast.
