BROOKFIELD, Wis. – Fiserv reported yesterday that net income for its third quarter declined by 36%, to $78 million, or 48 cents a share, due to costs related to the sale of its Fiserv Insurance operations.
Third quarter results reflect the sale of a 51% interest in Fiserv’s insurance operations and beginning on July 15, the company no longer consolidates the revenues and expenses associated with Fiserv Insurance. Third quarter earnings include a 15 cents a share after-tax loss from the sale of the majority interest in Fiserv Insurance.
Third quarter revenue rose 17% to $1.08 billion.
For the first three quarters of the year, revenues rose 32%, while net income rose by 48%, to $507 million, or $3.08 a share.
Third quarter highlights include the signing of The Golden 1 CU to Fiserv CheckFree’s Consumer Source Capture home deposit solution; and 138 new client signings for CheckFree’s electronic bill payment.
