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Fiserv beats earnings expectations for Q4
February 7, 2010
Fiserv Inc.'s shares were up in trading shortly after the company last week posted improved profit and revenue, according to FoxBusiness.com. Shares of Fiserv rose 60 cents $46.40 a share. The stock was up another $1.05 in after-hours trading. For the fourth quarter, Fiserv reported an increase in net income of 90 percent, hitting $118 million, 76 cents per share, up from the $62 million, 39 cents per share, it reported for the same period in 2008.
Fourth-quarter revenue hit, $1.06 billion, up from the $1.04 billion reported last year.
"Although we believe the environment in 2010 will remain tough, we expect to grow revenue, earnings and free cash flow while continuing to invest in solutions that will help our clients to be even more successful," said Jeffery Yabuki, president and CEO of Fiserv, in a statement.
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