Earnings Summary: Fiserv reports higher revenues and earnings for Q4 2023

Payment technology company Fiserv, Inc. (NYSE: FI) on Tuesday announced financial results for the fourth quarter of 2023, reporting an increase in revenues and earnings.

• Fourth-quarter revenues increased 6% year-over-year to $4.92 billion; adjusted revenue came in at $4.64 billion
• Organic revenue growth was 12% in the fourth quarter, led by a 24% growth in the Acceptance segment
• Acceptance segment revenue rose by 14% and the Payments segment grew by 3% while Fintech revenue fell by 3%
• Q4 net income increased to $870 million or $1.45 per share from $782 million or $1.23 per share a year earlier
• Adjusted earnings increased 15% annually to $2.19 per share during the three months
• In FY23, free cash flow increased 14% to $4.02 billion, compared to $3.52 billion in the prior year
• The company repurchased 8.6 million shares of common stock for $1.0 billion in the fourth quarter
• Fiserv expects organic revenue growth to be 15-7% and adjusted earnings per share to be $8.55 to $8.70 in fiscal 2024