Fiserv earnings up on higher sales

Brookfield-based Fiserv Inc. reported second quarter net income of $166 million, or 65 cents per share, up from $152 million, or 56 cents per share, in the second quarter of 2013.

Total revenue for the financial services technology firm was $1.3 billion, up from $1.2 billion in the same period a year ago.

Merger and integration costs were $2 million, down from $16 million in the second quarter of 2013, when the company accounted for its acquisition of Open Solutions Inc.

Fiserv received a $45 million cash distribution in the quarter from StoneRiver Group LP, a joint venture in which the company owns a 49 percent interest. It also repurchased 3 million shares of common stock in the quarter for $168 million.

“Our second quarter’s results are in line with expectations, and helped fuel a meaningful increase in our adjusted internal revenue growth in the first half of the year compared to 2013,” said Jeffery Yabuki, president and chief executive officer of Fiserv. “Market momentum and solid execution have us well-positioned for a very good year.”

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