Fiserv shares are headed for their best day since 2020, after the financial-technology company topped revenue expectations for its latest quarter
Fiserv Inc. shares are headed for their best day in nearly three years Tuesday, after the merchant-acquiring company topped revenue expectations for its latest quarter, while delivering an upbeat profit outlook and showing progress on margins.
Chief Executive Frank Bisignano noted on the earnings call that the company saw 360 basis points of operating-margin expansion in the latest quarter. The stock was also flirting with a historic post-earnings gain. A rally of between 6.16% and 11.93% for the day would mark Fiserv’s best post-earnings stock performance since the company reported earnings for its fourth quarter of 2000 in early 2021, according to Dow Jones Market Data.The latest earnings and outlook “will help propel FISV back into the ‘sustainable, defensive, share-taking’ lane in terms of investor sentiment,” wrote Barclays analyst Ramsey El-Assal.
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