Earnings Decline At Fiserv Due To Debt Extinguishment

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BROOKFIELD, Wis. – Fiserv reported yesterday its second quarter earnings dropped 29% to $9 million, as the company took a $61 million charge for the early extinguishment of debt.

Second quarter revenues rose 4% to $1.06 billion.

Second quarter highlights included a deal to acquire CashEdge for $465 million; and contracts with Randolph-Brooks FCU and TruStone Financial CU for the company’s Acumen core processing solution; with San Diego County CU for its mobile banking solution.

For the first six months of the fiscal year Fiserv reported a 4% increase in revenues, to $2.1 billion; and an 18% decline in net income, to $202 million.

 

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