Fiserv Reports Third Quarter 2025 Results

Core Insights - Fiserv reported a GAAP revenue growth of 1% in Q3 2025, reaching $5.26 billion, with a year-to-date growth of 5% to $15.91 billion [2][20] - GAAP EPS increased by 49% in Q3 2025 to $1.46, and by 29% year-to-date to $4.83 [2][22] - The company anticipates organic revenue growth of 3.5% to 4% and adjusted EPS of $8.50 to $8.60 for the full year 2025 [6][4] Financial Performance - GAAP operating margin was 27.3% in Q3 2025, down from 30.7% in Q3 2024, and 28.5% year-to-date compared to 27.7% in the previous year [3][30] - Adjusted revenue for Q3 2025 was $4.92 billion, reflecting a 1% increase, while year-to-date adjusted revenue grew by 5% to $14.90 billion [5][30] - Organic revenue growth was 1% in Q3 2025, with a 5% increase in the Merchant Solutions segment and a 3% decline in the Financial Solutions segment [5][30] Strategic Initiatives - The company launched the "One Fiserv" action plan aimed at enhancing client focus and leveraging its strengths in client service and technology solutions [4][6] - Leadership changes include the appointment of Takis Georgakopoulos and Dhivya Suryadevara as Co-Presidents, effective December 1, 2025, and Paul Todd as CFO, effective October 31, 2025 [7][8] Acquisitions and Investments - Fiserv completed the acquisition of CardFree, Inc. and the Smith Consulting Group, LLC, and has a definitive agreement to acquire StoneCastle Cash Management [10][10] - The company also acquired a portion of The Toronto-Dominion Bank's merchant processing business in Canada, expanding its Clover platform [10][10] Market Position - Fiserv was named the 1 global financial technology provider in the 2025 IDC FinTech Top 100 Rankings for the third consecutive year [10][10] - The company aims to build a pre-eminent small business operating platform through Clover and create innovative platforms in finance and commerce [10][10]