BROOKFIELD, Wis. – Fiserv, which recently completed the acquisition of electronic payments giant CheckFree, yesterday said first quarter earnings almost tripled to $329 million.
Total revenues surged 39% to $1.31 billion as the credit union and bank outsourcer completed the integration of CheckFree. The CheckFree purchase took on added significance yesterday, when Fiserv announced an extension of a contract with Bank of America to buy online services from CheckFree. The contract was extended through 2013.
During the first quarter, Fiserv signed 141 new electronic bill payment customers and made significant progress toward integrating CheckFree’s bill payment product with its core processing systems.
Fiserv acquired CheckFree last year for $48 a share, or $4.2 billion.
