BROOKFIELD, Wis. – Fiserv yesterday reported a 40% surge in second quarter profits, to $140 million, to a $265 million, or 25%, reduction in expenses after the sale of its Fiserv Insurance unit.
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Second quarter revenues were down 20%, to $1.03 billion, mainly due to the disposition of the insurance business.
For the first six months of the year, Fiserv reported a 37% decline in revenues, to $1.6 billion, and a 43% decline in profits, to $243 million, despite a $522 million drop in expenses.
