Brookfield-based financial services technology provider Fiserv Inc has reported its financial results for the fourth quarter and full 2018 fiscal year, which saw a strong performance across key metrics relative to the same periods over one year ago.
In terms of total revenues, Fiserv reported a figure of $1.47 billion in Q4 and $5.54 billion for the full year, which represents a jump of two percent in each period compared to the 2017 periods.
Additionally, Fiserv’s revenues grew 4.5 percent in the October-December quarter, with six percent growth in the Payments segment and three percent in the Financial segment.
Fiserv’s consolidated income statement for the three months ending December 30, 2018, revealed adjusted earnings per share at $0.84 in the fourth quarter and $3.10 for the full year, up 24 percent and 25 percent respectively.
The company also highlighted in the earnings report that it repurchased 25.5 million shares of common stock in the fourth quarter.
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Founded in 1984 and headquartered in Wisconsin, Fiserv’s solutions are now used by more than 13,000 clients in over 80 countries worldwide. The company has also more than one-third of US financial institutions relying on its product suite for account processing solutions and expertise.
The deal with First Data Corporation
Fiserv Inc revealed more details about its plans to merge with payment technology provider First Data Corporation(NYSE:FDC), which announced last month it would acquire in a $22 billion all-stock deal.
The deal was approved by the boards of both companies, and Fiserv expects the acquisition to close in the first half of 2019, pending regulatory approval.
The implied First Data price from this deal is nearly $23 a share. Fiserv shareholders will receive nearly three of newly issued shares for each share they hold, or 57.5 percent of the combined company, while First Data shareholders will take the remaining 42.5 percent.
First Data is a Georgia headquartered firm, which processes $2.4 trillion each year and 2500 transactions per second. It operates as a payment technology company that handles a wide range of services including credit card processing.