Fiserv reports record quarter

Brookfield-based Fiserv Inc. reported third quarter net income of $239 million, or 95 cents per share, up from $159 million, or 61 cents per share, in the third quarter of 2013.

The global financial services technology solutions provider reported revenue of $1.3 billion, up from $1.2 billion in the same period a year ago.

Sales performance was up 27 percent year-over-year. The adjusted internal revenue growth was 5 percent, driven by 8 percent growth in the Payments segment and 1 percent growth in the Financial segment.

“The business performed very well in the quarter, delivering strong results including 8 percent adjusted internal revenue growth in the Payments segment, and record sales performance for the company,” said Jeffery Yabuki, president and chief executive officer. “The strength of our business model combined with growth in high quality revenue, produced excellent adjusted operating margin expansion and free cash flow results.”

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