- GAAP revenue decrease of 2% and organic revenue decrease of 4%;
- GAAP EPS decreased 29% and adjusted EPS decreased 16%;
- Company affirms 2026 organic revenue growth outlook of 1% to 3%
- and adjusted EPS outlook of $8.00 to $8.30
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, today reported financial results for the first quarter of 2026.
First Quarter 2026 GAAP Results
GAAP revenue for the company was $5.03 billion in the first quarter of 2026, a decrease of 2% compared to the first quarter of 2025. GAAP revenue was flat in the Merchant Solutions segment and decreased 5% in the Financial Solutions segment in the first quarter of 2026 compared to the prior year period. GAAP earnings per share was $1.07 in the first quarter of 2026, a decrease of 29% compared to the first quarter of 2025.
GAAP operating margin was 18.3% in the first quarter of 2026 compared to 27.2% in the first quarter of 2025. GAAP operating margin in the Merchant Solutions segment was 26.4% in the first quarter of 2026 compared to 34.2% in the prior year period. GAAP operating margin in the Financial Solutions segment was 38.1% in the first quarter of 2026 compared to 47.5% in the prior year period. Net cash provided by operating activities was $599 million in the first quarter of 2026 compared to $648 million in the first quarter of 2025.
“During the first quarter, we remained in execution mode, delivering results in line with the expectations we shared in February,” said Mike Lyons, Chief Executive Officer of Fiserv. “Our team is focused on advancing the One Fiserv Action Plan and while significant work remains, we are encouraged by our progress. We look forward to providing more details on our strategy and medium-term financial outlook at our May 14th Investor Day.”
First Quarter 2026 Non-GAAP Results and Additional Information
- Adjusted revenue was $4.68 billion in the first quarter of 2026, a decrease of 2% compared to the prior year period.
- Organic revenue decreased 4% in the first quarter of 2026, with a 1% decline in the Merchant Solutions segment and a 6% decline in the Financial Solutions segment.
- Adjusted earnings per share was $1.79 in the first quarter of 2026, a decrease of 16% compared to the prior year period.
- Adjusted operating margin was 29.7% in the first quarter of 2026 compared to 37.8% in the first quarter of 2025.
- Adjusted operating margin was 26.4% and 34.2% in the Merchant Solutions segment and 38.1% and 47.5% in the Financial Solutions segment in the first quarter of 2026 and 2025, respectively.
- Free cash flow was $259 million in the first quarter of 2026 compared to $371 million in the prior year period.
- The company repurchased 3.3 million shares of common stock for $200 million in the first quarter of 2026.
- The first quarter of 2026 included a net $254 million income tax benefit related to the release of various foreign valuation allowances, partially offset by $74 million of other discrete tax items, resulting in an overall lower effective income tax rate.
- In March 2026, Fiserv was named one of America’s Most Innovative Companies by Fortune for the fourth consecutive year.
Outlook for 2026
Fiserv continues to expect organic revenue growth of 1% to 3% and adjusted earnings per share of $8.00 to $8.30 for 2026.
“First quarter results were supported by stable underlying account and volume trends,” said Paul Todd, Chief Financial Officer of Fiserv. “We remain confident in our full-year guidance and are encouraged by the progress we are making with productivity initiatives, including Project Elevate.”
Earnings Conference Call
The company will discuss its first quarter 2026 results in a live webcast at 7 a.m. CT on Tuesday, May 5, 2026. 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.
