Fiserv Reports Fourth Quarter and Full Year 2024 Results
Fiserv, Inc., a leading global provider of payments and financial services technology solutions, has released its financial results for the fourth quarter and full year 2024. The company reported solid growth across various financial metrics, reflecting its robust business model and strategic initiatives.
Financial Highlights
Fiserv's GAAP revenue increased by 7% to $5.25 billion in the fourth quarter of 2024, compared to the same period last year. For the full year, GAAP revenue also grew by 7% to $20.46 billion. The company's GAAP earnings per share (EPS) rose by 13% in the fourth quarter to $1.64 and by 8% for the full year to $5.38. Operating cash flow for the year was $6.63 billion, while free cash flow stood at $5.23 billion.
Business and Operational Highlights
In terms of segment performance, the Merchant Solutions segment saw an 11% increase in GAAP revenue for the fourth quarter and a 10% increase for the full year. The Financial Solutions segment reported a 3% increase in GAAP revenue for the fourth quarter and a 4% increase for the full year. Organic revenue growth was particularly strong, with a 13% increase in the fourth quarter and a 16% increase for the full year.
Strategic Initiatives and Corporate Developments
Fiserv repurchased 6.1 million shares of common stock for $1.3 billion in the fourth quarter and 33.9 million shares for $5.5 billion over the full year. The company also realigned its reportable segments during the first quarter of 2024 to enhance operational performance. Additionally, Fiserv was named one of Fortune® World’s Most Admired Companies™ in January 2025, a recognition it has received for 10 of the last 11 years.
Management's Perspective
Frank Bisignano, Chairman and Chief Executive Officer of Fiserv, commented, "Fiserv’s track record of growth and consistency continued through 2024 — our fourth year in a row of double-digit organic revenue growth and 39th consecutive year of double-digit adjusted earnings per share growth. The strength and sustainability of Fiserv’s performance is a testament to our unparalleled business model which generates high recurring revenue, strong incremental margin, and healthy free cash flow."
Future Outlook
Looking ahead, Fiserv expects organic revenue growth of 10% to 12% and adjusted EPS of $10.10 to $10.30 for 2025, representing growth of 15% to 17%. The company remains confident in its ability to meet or exceed its medium-term outlook, driven by ongoing initiatives in its Merchant and Financial Solutions segments.
SEC Filing: FISERV INC [ FI ] - 8-K - Feb. 05, 2025