Earnings Dip At Fiserv
BROOKFIELD, Wis. – Fiserv yesterday reported a 9% decline in second quarter earnings, based on a drop in income from discontinued operations after last year’s sale of its insurance business.
Second quarter earnings were $127 million, down from $140 million for the second quarter last year, while revenues were almost flat at $1.02 billion for this year’s period. The main difference was a $28 million decline in income from discontinued operations in the second quarter.
Among the second quarter highlights were: the roll-out of the company’s ZashPay person-to-person payments service; the acquisition of AdviceAmerica, a provider of integrated advisor desktop solutions; the signing of Complex Community FCU, Odessa, Texas, to the company’s Portico account processing platform; and, signing Consumers CU, Waukegan, Ill., to the Acumen account processing platform from Fiserv.
For the first six months of the year revenues were almost flat at $2.03 billion, while net income was up 2% to $248 billion compared to the first six months last year.