Fiserv (FI) came out with quarterly earnings of $2.47 per share, beating the Zacks Consensus Estimate of $2.41 per share. This compares to earnings of $2.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +2.49%. A quarter ago, it was expected that this financial services technology company would post earnings of $2.08 per share when it actually produced earnings of $2.14, delivering a surprise of +2.88%.Over the last four qua ...

Financial Data and Key Metrics Changes - The company achieved 8% adjusted and organic revenue growth and 16% adjusted EPS growth in Q2 [5][34] - Adjusted revenue for Q2 reached $5.2 billion, with adjusted operating income growing 12% to $2.1 billion, resulting in an adjusted operating margin of 39.6% [33][34] - Free cash flow for the quarter was $1.2 billion, with expectations of approximately $5.5 billion for the full year [34][44] Business Line Data and Key Metrics Changes - In the Merchant Solutions segment, organic revenue growth was 9% in Q2, with adjusted revenue growth of 10% [35][36] - Clover revenue grew 30% in Q2, with reported payment volume growth of 8% and 11% excluding gateway conversion [11][36] - The Financial Solutions segment saw organic revenue growth of 7% in Q2, driven by strong growth in issuing and digital payments [39][40] Market Data and Key Metrics Changes - The company refined its full-year organic revenue growth guidance to approximately 10%, reflecting a slower ramp-up of product launches and economic conditions [8][45] - The company expects to return approximately 130% of free cash flow to shareholders through share repurchases, up from the previous expectation of 110% [44][45] Company Strategy and Development Direction - The company is focused on expanding its Clover platform through new products, markets, and partnerships, including a significant agreement with TD Bank Canada [14][19] - Strategic initiatives include enhancing distribution channels and advancing e-commerce capabilities within the Commerce Hub platform [21][38] - The company aims to capture significant shareholder value by providing mission-critical software and value-added solutions across various markets [8][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in capturing the full strategic and financial benefits of their initiatives, despite some delays in product launches [8][60] - The macroeconomic environment has been uncertain, impacting the timing of product rollouts and client activity [7][78] - Management remains optimistic about the company's positioning and growth opportunities in the coming years [30][78] Other Important Information - The company repurchased 12 million shares for $2.2 billion in Q2, bringing total cash returned to shareholders over the last twelve months to nearly $6.9 billion [44] - The adjusted effective tax rate for the quarter was 18.9% to 18.5%, with expectations of approximately 19.5% for the full year [43][44] Q&A Session Summary Question: Insights on Clover Capital penetration and growth strategies - Management acknowledged low penetration levels compared to peers and discussed ongoing efforts to enhance access to capital for merchants through operational refinements [49][52] Question: Changes in merchant growth rates and margin expectations - Management clarified that the refinement in growth expectations was due to a better understanding of strategic initiatives and their rollout timing, with confidence in achieving the revised targets [57][60] Question: Details on merchant operating margins and future cadence - Management explained that the decline in merchant margins was anticipated due to acquisitions and investments in marketing and product development, with expectations for future improvements as integrations progress [85][88]

Financial Data and Key Metrics Changes - For Q2 2025, the company achieved 8% adjusted and organic revenue growth and 16% adjusted EPS growth, with an adjusted operating margin of 39.6%, an increase of 120 basis points year-over-year [5][33] - Free cash flow for the quarter was $1,200,000,000, with expectations of approximately $5,500,000,000 for the full year [34][35] - The company refined its full-year organic revenue growth guidance to approximately 10%, at the low end of the previous range of 10% to 12% [7][46] Business Line Data and Key Metrics Changes - In the Merchant Solutions segment, organic revenue growth was 9% for both the quarter and year-to-date, with Clover revenue growing 30% in Q2 [35][39] - The Financial Solutions segment saw organic revenue growth of 7% in the quarter, driven by strong growth in issuing and digital payments [40][42] - Clover's volume growth was reported at 8%, with an adjusted growth of 11% excluding the gateway conversion [10][36] Market Data and Key Metrics Changes - The company reported a significant increase in Clover's value-added services (VAS) revenue, which grew 52% [11] - The international expansion of Clover is progressing well, particularly in Brazil, Mexico, and Canada, with new partnerships enhancing market penetration [12][13] Company Strategy and Development Direction - The company is focused on expanding its Clover platform through new products, markets, and partnerships, aiming to enhance its distribution channels and drive growth [9][20] - Strategic initiatives include the launch of Clover Hospitality and partnerships with TD Bank and Adobe to enhance service offerings [14][21] - The company is also investing in its digital payment solutions and cash flow management tools to meet evolving customer needs [30][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in capturing strategic and financial benefits from new product launches, despite some delays in execution [6][7] - The macroeconomic environment has been uncertain, impacting the timing of product rollouts and client implementations [78][79] - The company anticipates an acceleration in organic revenue growth in the second half of the year, particularly in the Merchant Solutions segment [46] Other Important Information - The company returned $2,200,000,000 to shareholders through share repurchases in the quarter, increasing its share repurchase guidance to approximately 130% of free cash flow [5][44] - Total debt outstanding was $29,600,000,000, with a debt to adjusted EBITDA ratio steady at 2.9 times [43][44] Q&A Session Summary Question: Insights on Clover Capital penetration - Management acknowledged that Clover Capital is underpenetrated compared to peers and discussed ongoing efforts to unlock total addressable market (TAM) through operational refinements and risk management strategies [49][52] Question: Changes in merchant growth rate expectations - Management clarified that the refinement in growth expectations is due to a combination of slower product rollouts and macroeconomic factors, not a decline in product quality [58][60] Question: Details on merchant operating margins - Management explained that the decline in merchant margins was anticipated due to acquisitions and investments in marketing and product development, which are expected to yield long-term benefits [85][88] Question: Acceleration in growth rates for the second half - Management indicated that the expected acceleration in growth rates is supported by easier year-over-year comparisons and continued expansion of Clover and Commerce Hub [91][94]

Second Quarter 2025 Financial Results July 23, 2025 This presentation includes unaudited non-GAAP financial measures. Additional information about these measures, reconciliations to the nearest GAAP financial measures and additional information about the basis of the presentation of our second quarter financial results are provided in the appendix to this presentation. © 2025 Fiserv, Inc. or its affiliates Second Quarter Highlights See Appendix for information regarding non-GAAP financial measures. All comp ...

Exhibit 99.1 News Release For more information contact: Media Relations: Sophia Marshall Senior Vice President, Communications Fiserv, Inc. 470-351-9908 sophia.marshall@fiserv.com Investor Relations: Julie Chariell Senior Vice President, Investor Relations Fiserv, Inc. 212-515-0278 julie.chariell@fiserv.com For Immediate Release Fiserv Reports Second Quarter 2025 Results GAAP revenue growth of 8% in the quarter and 7% year to date; GAAP EPS increased 22% in both the quarter and year to date; Organic revenue ...

[Executive Summary](index=1&type=section&id=Item%201.%20Executive%20Summary) Fiserv reported strong Q2 2025 results, refined its full-year outlook, and advanced strategic initiatives, demonstrating robust financial performance [Second Quarter 2025 Performance Highlights](index=1&type=section&id=Item%201.1.%20Second%20Quarter%202025%20Performance%20Highlights) Fiserv achieved strong Q2 2025 performance, marked by significant GAAP and non-GAAP revenue and earnings per share growth [GAAP Results Overview](index=1&type=section&id=Item%201.1.1.%20GAAP%20Results%20Overview) Fiserv's GAAP performance in Q2 and H1 2025 showed strong revenue and EPS growth, with improved operating margins **Second Quarter and Half-Year 2025 GAAP Key Financial Data** | Metric | Q2 2025 | H1 2025 | | :------------------------------------ | :------------- | :----------- | | GAAP Revenue Growth Rate | 8% | 7% | | Merchant Solutions Segment GAAP Revenue Growth Rate | 10% | 8% | | Financial Solutions Segment GAAP Revenue Growth Rate | 7% | 7% | | GAAP EPS Growth Rate | 22% | 22% | | GAAP Operating Margin (Q2) | 30.7% | 29.0% | | GAAP Operating Margin (Q2 2024) | 28.0% | 26.1% | | Net Cash Provided by Operating Activities (H1) | $2.31 billion | $2.17 billion (prior year period) | [Non-GAAP Results Overview](index=2&type=section&id=Item%201.1.2.%20Non-GAAP%20Results%20Overview) Non-GAAP results for Q2 and H1 2025 highlight strong organic revenue and adjusted EPS growth, with improved adjusted operating margins **Second Quarter and Half-Year 2025 Non-GAAP Key Financial Data** | Metric | Q2 2025 | H1 2025 | | :------------------------------------ | :------------- | :----------- | | Adjusted Revenue Growth Rate | 8% | 7% | | Organic Revenue Growth Rate | 8% | 8% | | Merchant Solutions Segment Organic Revenue Growth Rate | 9% | 9% | | Financial Solutions Segment Organic Revenue Growth Rate | 7% | 6% | | Adjusted EPS Growth Rate | 16% | 15% | | Adjusted Operating Margin (Q2) | 39.6% | 38.7% | | Free Cash Flow (H1) | $1.54 billion | $1.48 billion (prior year period) | [2025 Outlook Refinement](index=1&type=section&id=Item%201.2.%202025%20Outlook%20Refinement) Fiserv refined its 2025 full-year outlook, forecasting approximately **10%** organic revenue growth and adjusted EPS of **$10.15** to **$10.30** - The company adjusted its 2025 organic revenue growth outlook to approximately **10%**[1](index=1&type=chunk)[6](index=6&type=chunk) - The company adjusted its 2025 adjusted EPS outlook to **$10.15** to **$10.30**, representing **15%** to **17%** year-over-year growth[1](index=1&type=chunk)[6](index=6&type=chunk) - CEO Mike Lyons stated the company is on track for its 40th consecutive year of double-digit adjusted EPS growth[8](index=8&type=chunk) [Strategic Initiatives and Business Updates](index=2&type=section&id=Item%201.3.%20Strategic%20Initiatives%20and%20Business%20Updates) The company continued strategic initiatives, including customer-centric innovation and operational efficiency, alongside key financial and business developments - The company's strategic focus includes customer-centric innovation, deepening client relationships, and operational efficiency[4](index=4&type=chunk) - The company repurchased **12.2 million** shares of common stock valued at **$2.2 billion** in Q2, and **21.9 million** shares valued at **$4.4 billion** in H1[7](index=7&type=chunk) - The company completed a public offering of €2.175 billion in 3-year, 7-year, and 11-year senior notes with a weighted average coupon of **3.43%**[7](index=7&type=chunk) - In June 2025, the company signed an agreement to acquire the remaining **49.9%** equity interest in AIB Merchant Services, an Irish payment solutions provider[7](index=7&type=chunk) - In June 2025, the company announced plans to launch a new digital asset platform, including a new stablecoin (FIUSD), aiming to provide financial institutions and merchants with simple, secure, and scalable access to digital assets[7](index=7&type=chunk) - Fiserv was named a top global fintech company by CNBC for the third consecutive year in 2025 and included in TIME's 2025 list of Most Influential Companies[7](index=7&type=chunk) [GAAP Financial Results](index=6&type=section&id=Item%202.%20GAAP%20Financial%20Results) This section details Fiserv's GAAP financial performance, covering consolidated statements of income, segment results, cash flows, and balance sheets [Condensed Consolidated Statements of Income](index=6&type=section&id=Item%202.1.%20Condensed%20Consolidated%20Statements%20of%20Income) Fiserv achieved significant GAAP revenue and net income growth in Q2 and H1 2025, driven by increased processing, services, and product revenue **Condensed Consolidated Statements of Income (millions USD, except per share amounts, unaudited)** | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :------------------------------------ | :------------- | :------------- | :----------- | :----------- | | Revenue | $5,516 | $5,107 | $10,646 | $9,990 | | Operating Income | $1,696 | $1,428 | $3,091 | $2,609 | | Net Income Attributable to Fiserv | $1,026 | $894 | $1,877 | $1,629 | | GAAP Diluted EPS Attributable to Fiserv | $1.86 | $1.53 | $3.36 | $2.76 | [Segment Performance (GAAP)](index=9&type=section&id=Item%202.2.%20Segment%20Performance%20(GAAP)) Both Merchant Solutions and Financial Solutions segments achieved revenue growth, with varying operating margin trends **Segment GAAP Financial Performance (millions USD, unaudited)** | Segment | Q2 2025 Revenue | Q2 2024 Revenue | Q2 2025 Operating Margin | Q2 2024 Operating Margin | H1 2025 Revenue | H1 2024 Revenue | H1 2025 Operating Margin | H1 2024 Operating Margin | | :-------------------- | :----------------- | :----------------- | :----------------------- | :----------------------- | :--------------- | :--------------- | :--------------------- | :--------------------- | | Merchant Solutions | $2,644 | $2,410 | 34.6% | 36.6% | $5,016 | $4,663 | 34.4% | 35.4% | | Financial Solutions | $2,552 | $2,379 | 48.7% | 45.9% | $4,969 | $4,664 | 48.1% | 45.0% | - Merchant Solutions segment revenue grew **10%** in Q2 and **8%** in H1[2](index=2&type=chunk) - Financial Solutions segment revenue grew **7%** in Q2 and **7%** in H1[2](index=2&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Item%202.3.%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities increased in H1 2025, with cash primarily used for capital expenditures, acquisitions, and share repurchases, and funds raised through debt issuance **Condensed Consolidated Statements of Cash Flows (millions USD, unaudited)** | Cash Flow Item (H1) | 2025 | 2024 | | :------------------------------------ | :----- | :----- | | Net Cash Provided by Operating Activities | $2,313 | $2,172 | | Net Cash Used in Investing Activities | $(1,263) | $(1,207) | | Net Cash Used in Financing Activities | $(1,166) | $(1,114) | | Capital Expenditures | $(814) | $(768) | | Payments for Business Acquisitions (net of cash acquired) | $(337) | $0 | | Purchases of Treasury Stock | $(4,642) | $(3,230) | | Proceeds from Debt | $3,679 | $3,189 | [Condensed Consolidated Balance Sheets](index=12&type=section&id=Item%202.4.%20Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets increased to **$81.53 billion**, driven by key asset categories, while total liabilities increased and shareholders' equity decreased **Condensed Consolidated Balance Sheets (millions USD, unaudited)** | Balance Sheet Item | June 30, 2025 | December 31, 2024 | | :------------------------- | :------------ | :------------- | | Total Assets | $81,531 | $77,176 | | Total Liabilities | $55,768 | $49,490 | | Fiserv Shareholders' Equity | $25,215 | $27,068 | | Cash and Cash Equivalents | $999 | $1,236 | | Settlement Assets | $17,554 | $15,429 | | Goodwill | $37,465 | $36,584 | | Long-Term Debt | $28,059 | $23,730 | [Non-GAAP Financial Measures and Reconciliations](index=7&type=section&id=Item%203.%20Non-GAAP%20Financial%20Measures%20and%20Reconciliations) This section provides reconciliations of GAAP to non-GAAP financial measures, offering a clearer view of core operational performance [Reconciliation of GAAP to Adjusted Net Income and EPS](index=7&type=section&id=Item%203.1.%20Reconciliation%20of%20GAAP%20to%20Adjusted%20Net%20Income%20and%20EPS) Fiserv provides adjusted net income and EPS by excluding specific non-cash or non-recurring items to better reflect core operational performance **Reconciliation of GAAP to Adjusted Net Income and EPS (millions USD, except per share amounts, unaudited)** | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :------------------------------------ | :------------- | :------------- | :----------- | :----------- | | GAAP Net Income Attributable to Fiserv | $1,026 | $894 | $1,877 | $1,629 | | Total Adjustments | $309 | $325 | $698 | $732 | | Adjusted Net Income | $1,364 | $1,245 | $2,574 | $2,361 | | GAAP Diluted EPS Attributable to Fiserv | $1.86 | $1.53 | $3.36 | $2.76 | | Adjustments (net of income tax) | $0.61 | $0.60 | $1.25 | $1.24 | | Adjusted EPS | $2.47 | $2.13 | $4.61 | $4.00 | - Key adjustments include acquisition-related intangible asset amortization (**$341 million** in Q2 2025, **$672 million** in H1 2025) and the impact of Argentine Peso devaluation (**$39 million** in both Q2 and H1 2025)[27](index=27&type=chunk)[28](index=28&type=chunk)[31](index=31&type=chunk) [Adjusted Segment Performance](index=9&type=section&id=Item%203.2.%20Adjusted%20Segment%20Performance) Adjusted segment performance shows significant improvement in overall adjusted operating income and margin, with segment-level metrics aligning with GAAP **Adjusted Segment Performance (millions USD, unaudited)** | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :------------------------------------ | :------------- | :------------- | :----------- | :----------- | | Adjusted Revenue (Total Company) | $5,196 | $4,794 | $9,985 | $9,337 | | Adjusted Operating Income (Total Company) | $2,059 | $1,841 | $3,867 | $3,470 | | Adjusted Operating Margin (Total Company) | 39.6% | 38.4% | 38.7% | 37.2% | - Adjusted operating margin increased by **120 basis points** in Q2 and **150 basis points** in H1[7](index=7&type=chunk) - Adjusted metrics for Merchant and Financial segments are identical to GAAP metrics as no additional adjustments were made at the segment level[35](index=35&type=chunk) [Organic Revenue Growth](index=13&type=section&id=Item%203.3.%20Organic%20Revenue%20Growth) Fiserv achieved **8%** organic revenue growth in both Q2 and H1 2025, driven by strong performance in Merchant Solutions and Financial Solutions **Organic Revenue Growth (millions USD, unaudited)** | Segment | Q2 2025 Organic Revenue | Q2 2024 Organic Revenue | Q2 Growth Rate | H1 2025 Organic Revenue | H1 2024 Organic Revenue | H1 Growth Rate | | :-------------------- | :--------------------- | :--------------------- | :------------- | :------------------- | :------------------- | :----------- | | Total Company | $5,178 | $4,789 | 8% | $10,033 | $9,327 | 8% | | Merchant | $2,638 | $2,410 | 9% | $5,071 | $4,663 | 9% | | Financial | $2,540 | $2,379 | 7% | $4,962 | $4,664 | 6% | - Organic revenue growth excludes the impact of foreign currency fluctuations, acquisitions, dispositions, and company postage reimbursements[44](index=44&type=chunk) [Free Cash Flow](index=14&type=section&id=Item%203.4.%20Free%20Cash%20Flow) Free cash flow increased to **$1.54 billion** in H1 2025, reflecting strong operating cash generation **Free Cash Flow (millions USD, unaudited)** | Metric | H1 2025 | H1 2024 | | :------------------------------------ | :----------- | :----------- | | Net Cash Provided by Operating Activities | $2,313 | $2,172 | | Capital Expenditures | $(814) | $(768) | | Free Cash Flow | $1,545 | $1,479 | - Free cash flow measures funds available for debt service and strategic capital decisions during a given period[14](index=14&type=chunk) [Total Amortization](index=14&type=section&id=Item%203.5.%20Total%20Amortization) Total amortization expenses remained relatively stable year-over-year, with acquisition-related intangible asset amortization slightly decreasing **Total Amortization (millions USD, unaudited)** | Amortization Type | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :------------------------------------ | :------------- | :------------- | :----------- | :----------- | | Acquisition-Related Intangible Asset Amortization | $342 | $371 | $673 | $744 | | Capitalized Software and Other Intangible Asset Amortization | $188 | $156 | $364 | $300 | | Total Amortization | $651 | $649 | $1,276 | $1,288 | - Acquisition-related intangible asset amortization decreased by **$29 million** in Q2 and **$71 million** in H1[46](index=46&type=chunk) [Full Year Forward-Looking Non-GAAP Financial Measures](index=15&type=section&id=Item%204.%20Full%20Year%20Forward-Looking%20Non-GAAP%20Financial%20Measures) This section outlines Fiserv's full-year forward-looking non-GAAP financial measures, including organic revenue growth and adjusted EPS outlook [2025 Outlook for Organic Revenue Growth](index=15&type=section&id=Item%204.1.%202025%20Outlook%20for%20Organic%20Revenue%20Growth) Fiserv projects approximately **10%** organic revenue growth for full-year 2025, with the outlook considering various adjustments **2025 Outlook for Organic Revenue Growth** | Metric | Growth Rate | | :-------------------- | :---------- | | 2025 Revenue | 10.0% | | 2025 Adjusted Revenue | 10.0% | | 2025 Organic Revenue | ~10% | - The organic revenue growth outlook excludes the impact of foreign currency fluctuations, acquisitions, dispositions, and company postage reimbursements[50](index=50&type=chunk) [2025 Outlook for Adjusted Earnings Per Share](index=15&type=section&id=Item%204.2.%202025%20Outlook%20for%20Adjusted%20Earnings%20Per%20Share) The company forecasts 2025 adjusted EPS between **$10.15** and **$10.30**, reflecting a **15%** to **17%** increase from the prior year **2025 Outlook for Adjusted Earnings Per Share (millions USD, except per share amounts, unaudited)** | Metric | Amount | | :------------------------------------ | :----------- | | 2024 Adjusted Net Income | $5,123 | | 2024 Adjusted EPS | $8.80 | | 2025 Adjusted EPS Outlook | $10.15 - $10.30 | | 2025 Adjusted EPS Growth Outlook | 15% - 17% | - 2024 adjustments included merger and integration costs, severance, acquisition-related intangible asset amortization, equity investment impairments, and non-cash settlement charges for a terminated pension plan[55](index=55&type=chunk)[57](index=57&type=chunk) - Acquisition-related intangible asset amortization expenses are expected to decrease by approximately **5%** in 2025 compared to 2024[51](index=51&type=chunk) [Explanation of Non-GAAP Forward-Looking Measures](index=15&type=section&id=Item%204.3.%20Explanation%20of%20Non-GAAP%20Forward-Looking%20Measures) Fiserv's forward-looking non-GAAP measures aim to provide clearer performance assessment by excluding certain variable or non-cash items, with no GAAP reconciliation provided due to inherent variability - Forward-looking non-GAAP financial measures are intended to enhance shareholders' ability to assess the company's performance by excluding certain items, focusing on factors and trends affecting its business[49](index=49&type=chunk) - The forward-looking organic revenue growth outlook excludes the impact of foreign currency fluctuations, acquisitions, dispositions, and company postage reimbursements[50](index=50&type=chunk) - The forward-looking adjusted EPS outlook excludes non-cash intangible asset amortization expense, non-cash impairment charges, merger and integration costs, severance, gains or losses on sales of businesses/assets/investments, and certain discrete tax benefits and expenses[51](index=51&type=chunk) - A reconciliation of forward-looking non-GAAP measures to corresponding GAAP measures is not provided due to the variability, complexity, and limited visibility of non-cash and other excluded items[49](index=49&type=chunk)[52](index=52&type=chunk) [Additional Company Information](index=3&type=section&id=Item%205.%20Additional%20Company%20Information) This section provides background on Fiserv, detailed disclosures on non-GAAP financial measures, and important forward-looking statements [About Fiserv](index=3&type=section&id=Item%205.1.%20About%20Fiserv) Fiserv, Inc. is a Fortune 500 global leader in payments and fintech, offering innovative solutions across various financial services - Fiserv, Inc. (NYSE: FI) is a Fortune 500 company and a global leader in payments and fintech[9](index=9&type=chunk) - The company helps clients achieve best-in-class results through innovation and excellence in account processing and digital banking solutions, card issuer processing and network services, payments, e-commerce, merchant acquiring and processing, and Clover® point-of-sale systems[9](index=9&type=chunk) - Fiserv is a member of the S&P 500 Index and has been recognized by Fortune as one of the World's Most Admired Companies[9](index=9&type=chunk) [Use of Non-GAAP Financial Measures (Detailed Disclosure)](index=3&type=section&id=Item%205.2.%20Use%20of%20Non-GAAP%20Financial%20Measures%20(Detailed%20Disclosure)) Fiserv uses non-GAAP financial measures to supplement GAAP reporting, providing additional insight into performance by excluding certain non-cash or other items - The company uses non-GAAP measures such as adjusted revenue, organic revenue growth, adjusted operating income, adjusted EPS, and free cash flow to supplement its GAAP reporting[10](index=10&type=chunk) - Management believes these measures enhance shareholders' ability to assess the company's performance by adjusting for certain non-cash or other items and excluding certain pass-through revenues and expenses, providing additional insight into factors and trends affecting its business[10](index=10&type=chunk) - Examples of non-cash or other items include acquisition-related intangible asset amortization expense, non-cash impairment charges, merger and integration costs, severance, gains or losses on sales of businesses/assets/investments, and certain discrete tax benefits and expenses[11](index=11&type=chunk) - Organic revenue growth excludes the impact of foreign currency fluctuations, acquisitions, dispositions, and company postage reimbursements[14](index=14&type=chunk) - Free cash flow measures the funds available for debt service requirements and strategic capital decisions during a given period[14](index=14&type=chunk) - These unaudited non-GAAP measures may not be comparable to similarly titled measures reported by other companies and should be considered as a supplement to, not a substitute for, GAAP measures[15](index=15&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Item%205.3.%20Forward-Looking%20Statements) This press release contains forward-looking statements subject to assumptions, risks, and uncertainties that may cause actual results to differ materially from expectations - Forward-looking statements often contain words such as "believe," "expect," "anticipate," "may," "should," "confident," "could," "plan," or similar words of like meaning[16](index=16&type=chunk) - Forward-looking statements are subject to assumptions, risks, and uncertainties that could cause actual results to differ materially from expectations[17](index=17&type=chunk) - Factors that could cause actual results to differ materially include competition, changes in client demand, technological advancements, merchant alliances, security breaches or operational failures, fraud losses, changes in economic or political conditions (e.g., inflation, rising interest rates, recession), legislative and regulatory actions, intellectual property protection, litigation, acquisition integration, growth strategies, attracting and retaining key personnel, adverse foreign currency effects, and changes in corporate tax and interest rates[17](index=17&type=chunk)[19](index=19&type=chunk) - Investors should carefully consider these factors and not place undue reliance on forward-looking statements, as the company undertakes no obligation to update any forward-looking statements[19](index=19&type=chunk)

Core Insights - Triba Research aims to identify high-quality businesses capable of delivering sustainable, double-digit returns over the long term [1] - The firm's strategy emphasizes companies with strong competitive advantages, operating in growing markets, maintaining low debt levels, and led by skilled management teams [1] - Triba Research prioritizes long-term value creation while staying informed about the latest market developments [1]

Core Insights - Fiserv, Inc. is set to release its second-quarter 2025 results on July 23, with a history of positive earnings surprises averaging 2.1% [2][7] Revenue Expectations - The Zacks Consensus Estimate anticipates revenues to increase by 8.5% year-over-year to $5.2 billion [3][10] - Merchant Solutions is expected to generate $2.8 billion in revenues, reflecting a 6.2% year-over-year growth, driven by Clover's growth and new partnerships [4][10] - Financial Solutions revenues are projected at $2.5 billion, indicating a 14.6% increase from the previous year, supported by product adoption and cross-platform advancements [5][10] - Processing and Services revenues are estimated at $4.5 billion, suggesting a 9.1% rise year-over-year, while Product segment revenues are expected to reach $1 billion, implying a 12.7% improvement [6][10] Earnings Predictions - The model predicts an earnings beat for Fiserv, with an Earnings ESP of +0.73% and a Zacks Rank of 2 (Buy) [7]

Core Viewpoint - Fiserv (FI) shares have increased by 1.4% over the past month, closing at $165.74, with a potential upside of 31.6% based on Wall Street analysts' mean price target of $218.09 [1] Group 1: Price Targets and Analyst Estimates - The mean estimate consists of 34 short-term price targets with a standard deviation of $31.63, indicating variability among analysts; the lowest estimate is $125.00 (24.6% decline), while the highest is $268.00 (61.7% increase) [2] - Analysts' price targets can often mislead investors, as empirical research shows they rarely indicate actual stock price movements [7] - A low standard deviation in price targets suggests a high degree of agreement among analysts regarding the stock's price direction, serving as a starting point for further research [9] Group 2: Earnings Estimates and Market Sentiment - There is growing optimism among analysts regarding Fiserv's earnings prospects, supported by a consensus of higher EPS estimates, which correlates with potential stock price increases [11] - Over the last 30 days, the Zacks Consensus Estimate for the current year has risen by 0.2%, with four estimates moving higher and no negative revisions [12] - Fiserv holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, indicating strong potential for near-term upside [13]

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