Fiserv earnings down

Brookfield-based Fiserv Inc. reported second quarter net income of $151 million, or $1.13 per share, down from $161 million, or $1.17 per share, in the second quarter of 2012.

 
The financial services technology solutions company’s total revenue was $1.2 billion for the quarter, up from $1.09 billion in the same period a year ago.

Fiserv repurchased 2.3 million shares of common stock in the second quarter for $204 million, and 2.4 million shares were still available under the share repurchase authorization as of June 30.

“Our strong second quarter results included revenue and earnings acceleration in-line with our full-year expectations,” said Jeffery Yabuki, president and chief executive officer. “Performance was led by 7 percent adjusted internal revenue growth in our payments segment, solid sales and excellent free cash flow.”

The company expects 2013 adjusted revenue to grow more than 10 percent and adjusted earnings per share of $5.84 to $6.03 .

Sign up for BizTimes Daily Alerts

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

No posts to display