Dallas, Texas 05/08/2014 (FINANCIALSTRENDS) – Fiserv Inc (NASDAQ:FISV) isn’t letting up on the momentum it gained leading up to the release of the company’s first quarter results. FISV has climbed from around $55 in the last week of April before the quarterly report to around $62 now. The boost in investor confidence ensures that FISV won’t look back to the resistance level, and the stock looks good to continue its surge upwards.
Fiserv First Quarter 2014 Earnings Report
Fiserv reported adjusted revenue of $1.15 billion for the first quarter 2014, a 6% increase as compared to $1.08 billion in the same quarter of 2013. Adjusted earnings per share for the first quarter 2014 were pegged at $0.82, a 22% increase as compared to the $0.67 EPS in the first quarter of 2013.
The first quarter results also comprehensively beat the analyst estimate of $0.74 EPS for the first quarter.
Statement by Fiserv CEO Jeffery Yabuki
Jeffery Yabuki, president and CEO of Fiserv, said that, “Our strong results in the quarter included 8 percent internal revenue growth in the Payments segment, and excellent operating performance across the company. Total sales increased 17 percent in the quarter reflecting the momentum of our market leading products and services.”
Full Year 2014 Outlook for Fiserv
The key to the continuing surge was the full-year outlook provided with the first quarter earnings report. “Our strong results in the quarter have us on-track to achieve our full year outlook,” added Yabuki.
By the numbers, Fiserv expects adjusted revenue growth in a 4 to 5% range for the full year. Adjusted earnings per share for the full year is expected to be in the $3.28 to $3.37 range, with analyst estimates right in the middle of this range at $3.33. The EPS range also pegs the earnings growth at 10-13% over the $2.99 EPS for 2013.