Fiserv Reports $6.45 Billion Goodwill Write-Down and Declining Margins
Fiserv (FISV) reported a significant third-quarter GAAP loss of $11.17 per share, driven primarily by a $6.45 billion non-cash goodwill write-down. Despite the massive charge, shares rose approximately 10% in pre-market trading as investors parsed the underlying fundamentals. While organic revenue remained flat year-over-year, adjusted earnings per share fell to $1.75 from $2.04. The company is facing margin compression, particularly within its Merchant Solutions segment (including Clover), where operating margins dropped significantly. Rising costs and stalled sales have led to a 17% decline in adjusted operating income. To meet its affirmed full-year guidance, Fiserv will require a strong fourth quarter with positive organic revenue growth and successful realization of its $1 billion 'Project Elevate' savings target.
Topics: earnings report goodwill write-down operating margin revenue growth
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