Fiserv Inc.’s second-quarter revenue rose 4.9%, to $1.07 billion from $1.02 billion a year earlier as the vendor sold more of its bill-payment and account-processing software to banks.
The company recorded a $61 million pretax charge for extinguishing some of its debt early, Brookfield, Wis.-based Fiserv said July 26. As a result, net income fell 29.1%, to $90 million from $127 million.
On an adjusted basis, Fiserv’s earnings of $1.13 per share from continuing operations beat analysts’ averaged estimate. Analysts had predicted Fiserv to earn $1.08 per share, according to Thomson Reuters.
“Our highly valued and differentiated [products and services] led us to record the largest quarterly sales attainment in the company’s history,” Jeffery Yabuki, Fiserv president and chief executive, said in a press release.
Fiserv sells core systems, payments processing, online banking and mobile software to mostly small and midsize banks.
During the quarter, Fiserv said it signed 107 new electronic bill-payment and 41 debit-processing clients. It also received commitments form 135 clients that plan to offer its ZashPay online payment system to their customers.
Fiserv last month said it is buying software vendor CashEdge Inc. for $465 million to bulk up its online payments business (
