Higher sales drive Fiserv earnings bump

Brookfield-based Fiserv Inc. reported first quarter net income of $168 million, or 65 cents per share, up from $117 million, or 43 cents per share, in the first quarter of 2013.
Revenue was $1.2 billion, up from $1.1 billion in the same period a year ago.

During the quarter, Fiserv repurchased 6.1 million shares of common stock for $351 million and had 12.4 million remaining authorized shares for repurchase as of March 31. It also integrated Open Solutions

The company, which develops financial services technology, has more than 1,800 mobile banking and about 2,200 Popmoney social payment clients.

“Our strong results in the quarter included 8 percent internal revenue growth in the payments segment and excellent operating performance across the company,” said Jeffery Yabuki, president and chief executive officer. “Total sales increased 17 percent in the quarter, reflecting the momentum of our market-leading products and services.”

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