Aug 6 (Reuters) – Payments processor Fiserv cut its full-year profit forecast on Thursday after growth in its key segments slowed in the second quarter, sending its shares down nearly 12% in premarket trading.
Here are some details:
• Fiserv cut its 2026 adjusted earnings per share forecast to between $7.20 and $7.40, from $8.00 to $8.30.
• Fiserv also slashed its full-year organic revenue forecast. It now expects the revenue to be flat or fall 1%, versus its previous expectation of between 1% and 3% growth.
• Revenue in Fiserv’s merchant solutions segment decreased 1% in the second quarter, while financial solutions revenue fell 8%.
• Activist investor Jana Partners has stepped up pressure on Fiserv to strategically review its entire portfolio and refresh the board, following a rout in its stock price.
• The company’s shares are down nearly 20% this year, following a near 68% drop in 2025.
• For the period ended June, the company’s revenue fell 4% to $5.29 billion from a year ago.
• The company’s adjusted profit for the quarter was $1.84 per share, compared with $2.47 it had reported a year earlier.
(Reporting by Aditi Tiwari in Bengaluru; Editing by Maju Samuel)
