April 23, 2024 11:49 GMT
Fiserv (Baa2/BBB) In Line On Q1 Rev & Op Income; Earnings Guidance Raised
TECHNOLOGY
- Q1 revenue and op income broadly in line with consensus at +7% YoY and +13% YoY respectively. YoY org revenue growth was +20%, far ahead of the BBG consensus of 13.4%.
- Equity may be happy with adj-EPS of USD 1.88 vs. consensus of USD 1.79 along with the raised FY guidance. Org revenue growth guidance left in place.
- Net cash from ops of USD 831mn vs. USD 1.13bn in Q123; cash and cash equivalents of USD 2.96bn from USD 3.2bn.
- Spreads 1-2bps tighter on the day; flat since reporting.
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