Core Insights - Fiserv, Inc. (FI) reported mixed second-quarter 2025 results, showcasing strong segmental revenue performance and margins, but the earnings beat did not satisfy the market, leading to a 15.7% decline in shares since the results release on July 23 [1] Financial Performance - Adjusted earnings per share were $2.47, exceeding the consensus estimate by 2.5% and reflecting a 16% year-over-year increase [2] - Adjusted revenues reached $5.2 billion, slightly missing consensus estimates but showing an 8.6% year-over-year growth [2][7] Segment Performance - Processing and services revenues amounted to $4.3 billion, a 4% year-over-year increase, falling short of the estimated $4.5 billion [2] - The product segment generated revenues of $1.2 billion, up 25.3% from the same quarter last year, surpassing the estimate of $1.1 billion [2] - Merchant Solutions revenues were $2.6 billion, a 9.7% increase from the previous year, but below the estimate of $2.8 billion, driven by Clover growth and expansion into new markets [3] - Financial Solutions segment reported revenues of $2.6 billion, a 7.2% rise from the year-ago quarter, exceeding the estimate of $2.5 billion, supported by strong growth in Zelle transactions and increasing demand for real-time payments [4]