Fiserv stock craters 44% toward worst day ever after slashing guidance

Core Viewpoint - Fiserv's stock experienced a significant decline of 44%, marking its worst day ever, following a downward revision of its earnings outlook and changes in its leadership team [1]. Financial Performance - For the full year, Fiserv now anticipates adjusted earnings of $8.50 to $8.60 per share, a reduction from the previous forecast of $10.15 to $10.30 [2]. - Revenue growth is now expected to be between 3.5% and 4%, compared to an earlier estimate of 10% [2]. - Adjusted earnings for the recent quarter were reported at $2.04 per share, which fell short of the FactSet estimate of $2.64 [2]. - Revenues increased by approximately 1% year-over-year to $4.92 billion, missing the forecast of $5.35 billion [2]. - Net income rose to $792 million from $564 million in the same period last year [2]. Leadership Changes - Fiserv announced multiple executive and board changes alongside the financial results [3].