Milwaukee-based fintech firm Fiserv on Wednesday reported revenue of $20.5 billion in 2024, up 7.1% from $19.1 billion in 2023, a new high for the company.
The company reported net income of $3.1 billion in 2024, up 2% from $3.07 billion in 2023.
Fiserv has grown substantially since it reported annual revenue of $5.8 billion in 2018. In 2019, the company completed a merger with New York-based First Data in an all stock transaction valued at $22 billion.
Fiserv reported revenue of $10.2 billion in 2019, $14.85 billion in 2020, $16.2 billion in 2021 and $17.7 billion in 2022.
Frank Bisignano, chairman and chief executive officer of Fiserv. “The strength and sustainability of Fiserv’s performance is a testament to our unparalleled business model which generates high recurring revenue, strong incremental margin, and healthy free cash flow.”
Looking ahead to 2025, Fiserv today said it expects organic revenue growth of 10% to 12% for the year and adjusted earnings per share of $10.10 to $10.30, representing growth of 15% to 17%.
“Our 2025 guidance reflects a continuation of our product, client and distribution strategies and our commitment to operational excellence to drive outperformance,” Bisignano said.
Fiserv ranked #215 on the 2024 Fortune 500 list.
Last year, the company completed the move of its corporate headquarters from Brookfield to downtown Milwaukee.
In January, the company announced that Michael P. Lyons, who had been the president of Pittsburgh-based The PNC Financial Services Group, Inc., was named the president and CEO-elect of Fiserv.
Shares of Fiserv stock rose $14.12 to $228.34 this morning, an increase of 6.6%. The company has a market capitalization of $129.9 billion.
