BROOKFIELD, Wis. - Fiserv Inc. announced last week that its net income during the second quarte, which ended June 30, rose 20 percent, from $95 million (49 cents per share) last year to $114 million (59 cents per share).
According to a news release, processing and services revenue during the quarter was $913 million, a 10 percent jump from last year's second quarter. Processing and services revenue for the year is $1.8 billion, a 9 percent increase from the half-year mark in '04.
"We are very pleased with our results for the first half of 2005, posting record revenues and earnings along with strong operating margins in our businesses," said Leslie M. Muma, president and chief executive of Fiserv. "Our financial segment internal revenue growth rate was 6 percent for the first half of 2005, which is a solid improvement over the prior-year 2 percent growth rate."
Fiserv completed three acquisitions during 2Q '05. It acquired the U.S. eLending operations of Emergis Inc., Interactive Technologies Inc. and Administrative Services Group Inc.
