• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    Fiserv Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Other Events, Financial Statements and Exhibits

    11/15/23 6:36:03 AM ET
    $FISV
    Business Services
    Consumer Discretionary
    Get the next $FISV alert in real time by email
    8-K
    FISERV INC false 0000798354 0000798354 2023-11-15 2023-11-15 0000798354 us-gaap:CommonStockMember 2023-11-15 2023-11-15 0000798354 fisv:SeniorNotesDue2027Member 2023-11-15 2023-11-15 0000798354 fisv:SeniorNotesDue2030Member 2023-11-15 2023-11-15 0000798354 fisv:SeniorNotesDue2025Member 2023-11-15 2023-11-15 0000798354 fisv:ThreePointZeroPercentSeniorNotesDue2031Member 2023-11-15 2023-11-15 0000798354 fisv:FourPointFivePercentSeniorNotesDue2031Member 2023-11-15 2023-11-15

     

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    WASHINGTON, DC 20549

     

     

    FORM 8-K

     

     

    CURRENT REPORT

    Pursuant to Section 13 or 15(d)

    of the Securities Exchange Act of 1934

    Date of report (Date of earliest event reported):

    November 15, 2023

     

     

    Fiserv, Inc.

    (Exact Name of Registrant as Specified in Charter)

     

     

     

    Wisconsin   1-38962   39-1506125

    (State or Other Jurisdiction

    of Incorporation)

     

    (Commission

    File Number)

     

    (IRS Employer

    Identification No.)

     

    255 Fiserv Drive, Brookfield, Wisconsin 53045

    (Address of Principal Executive Offices, Including Zip Code)

    (262) 879-5000

    (Registrant’s telephone number, including area code)

     

     

    Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

     

    ☐

    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

     

    ☐

    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

     

    ☐

    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

     

    ☐

    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

    Securities registered pursuant to Section 12(b) of the Act:

     

    Title of each class

     

    Trading
    Symbol(s)

     

    Name of each exchange
    on which registered

    Common Stock, par value $0.01 per share   FI   The New York Stock Exchange
    1.125% Senior Notes due 2027   FI27   The New York Stock Exchange
    1.625% Senior Notes due 2030   FI30   The New York Stock Exchange
    2.250% Senior Notes due 2025   FI25   The New York Stock Exchange
    3.000% Senior Notes due 2031   FI31   The New York Stock Exchange
    4.500% Senior Notes due 2031   FI31A   The New York Stock Exchange

    Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

    Emerging growth company  ☐

    If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

     

     

     


    Item 2.02.

    Results of Operations and Financial Condition.

    Segment Realignment

    Fiserv, Inc. (the “Company”) is effecting changes in its business designed to further enhance operational performance in the delivery of its integrated portfolio of products and solutions to its financial institution clients. As a result, the Company expects to realign its reportable segments to correspond with these organizational changes (the “Segment Realignment”), which the Company expects to be completed effective for the quarter ending March 31, 2024. As further described below under Item 8.01 of this Current Report on Form 8-K, the Company’s new reportable segments are expected to be Merchant Solutions and Financial Solutions. The Company continues to allocate resources and assess performance based on the current reportable segment structure.

    Supplemental Revenue Information

    In connection with the Company’s investor conference on November 15, 2023, the Company is providing updated information in the schedules included in Exhibit 99.1 to recalculate certain non-GAAP measures of its historical revenue under the expected new segment reporting structure for each of the quarters in 2022, the first three quarters of 2023, and the full year 2022. The schedules have been prepared by making certain adjustments to the underlying composition of the Company’s historical revenue information. The adjustments are discussed in the notes to the schedules. In addition, the Company is providing anticipated new segment organic revenue growth outlook for 2024-2026, as follows:

     

         Organic Revenue Growth
         Preliminary Outlook
    2024
       Medium Term
    Outlook

    2025 - 2026

    Merchant Solutions

       18% - 20%    12% - 15%

    Financial Solutions

       5% - 7%    6% - 8%

    Total Company

       11% - 13%    9% - 12%

    A reconciliation of unaudited non-GAAP revenue measures to the most comparable GAAP measures are included in this Current Report on Form 8-K (this “Form 8-K”), except for forward-looking revenue measures where a reconciliation to the corresponding GAAP measures is not available due to the variability, complexity and limited visibility of these items that are excluded from the non-GAAP outlook measures. The Company’s forward-looking non-GAAP revenue measures, including adjusted revenue, organic revenue and organic revenue growth, are designed to enhance shareholders’ ability to evaluate the company’s performance by excluding certain items to focus on factors and trends affecting its business.

    The Company’s organic revenue growth outlook excludes the impact of foreign currency fluctuations, acquisitions, dispositions and the impact of the Company’s postage reimbursements. The currency impact is measured as the increase or decrease in the expected adjusted revenue for the period by applying prior period foreign currency exchange rates to present a constant currency comparison to prior periods.

     

         Preliminary
    2024 Growth

    Revenue

       6.5% - 8.5%

    Postage reimbursements

       (0.5)%
      

     

    Adjusted revenue

       6% - 8%
      

     

    Currency impact

       4.5%

    Acquisition adjustments

       0.0%

    Divestiture adjustments

       0.5%
      

     

    Organic revenue

       11% - 13%
      

     

    The Company anticipates the 2024 adjustments will occur as follows: postage reimbursements in Corporate and Other, currency impact in Merchant Solutions and divestiture adjustments in Financial Solutions.

    Forward-Looking Statements

    This Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding anticipated organic revenue growth. Statements can generally be identified as forward-looking because they include words such as “believes,” “anticipates,” “expects,” “could,” “should,” or words of similar meaning. Statements that describe the Company’s future plans, outlook, objectives or goals are also forward-looking statements.


    Forward-looking statements are subject to assumptions, risks and uncertainties that may cause actual results to differ materially from those contemplated by such forward-looking statements. The factors that could cause the Company’s actual results to differ materially include, among others, the following: the Company’s ability to compete effectively against new and existing competitors and to continue to introduce competitive new products and services on a timely, cost-effective basis; changes in customer demand for the Company’s products and services; the ability of the Company’s technology to keep pace with a rapidly evolving marketplace; the success of the Company’s merchant alliances, some of which are not controlled by the Company; the impact of a security breach or operational failure on the Company’s business, including disruptions caused by other participants in the global financial system; losses due to chargebacks, refunds or returns as a result of fraud or the failure of the Company’s vendors and merchants to satisfy their obligations; changes in local, regional, national and international economic or political conditions, including those resulting from heightened inflation, rising interest rates, a recession, bank failures, or intensified international hostilities, and the impact they may have on the Company and its employees, clients, vendors, supply chain, operations and sales; the effect of proposed and enacted legislative and regulatory actions affecting the Company or the financial services industry as a whole; the Company’s ability to comply with government regulations and applicable card association and network rules; the protection and validity of intellectual property rights; the outcome of pending and future litigation and governmental proceedings; the Company’s ability to successfully identify, complete and integrate acquisitions, and to realize the anticipated benefits associated with the same; the impact of the Company’s strategic initiatives; the Company’s ability to attract and retain key personnel; volatility and disruptions in financial markets that may impact the Company’s ability to access preferred sources of financing and the terms on which the Company is able to obtain financing or increase its costs of borrowing; adverse impacts from currency exchange rates or currency controls; changes in corporate tax and interest rates; and other factors included in “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, and in other documents that the Company files with the Securities and Exchange Commission, which are available at http://www.sec.gov. The preliminary 2024 outlook and medium term outlook for 2025 and 2026 reflect the anticipated organic revenue growth of the Company in each year based on its current and expected assets, businesses and operations. The estimates assume no material acquisitions or dispositions and that there are no other factors, including those described above in this Form 8-K, materially impacting the operations of the Company.

    You should consider these factors carefully in evaluating forward-looking statements and are cautioned not to place undue reliance on such statements. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this Form 8-K.

     

    Item 8.01.

    Other Events.

    The Company’s expected new reportable segments are:

    Merchant Solutions (“Merchant”)

    The businesses in the Merchant segment provide commerce-enabling products and services to companies of all sizes around the world. These products and services include merchant acquiring and digital commerce services; mobile payment services; security and fraud protection solutions; stored-value solutions; and pay-by-bank solutions. The businesses within the Merchant segment consist of the following:

     

      •  

    Small Business – provides products and services to small businesses and independent software vendors, including Clover®, the Company’s point-of-sale integrated commerce operating system for small business clients

     

      •  

    Enterprise – provides products and services to large businesses, including CaratSM, the Company’s integrated commerce operating system for enterprise clients

     

      •  

    Processing – provides products and services to financial institutions, joint ventures, and other third party resellers which have direct relationships with merchants

    Financial Solutions (“Financial”)

    The businesses in the Financial segment provide products and services to financial institution, corporate and public sector clients across the world, enabling the processing of customer loan and deposit accounts, digital payments and card transactions. The businesses within the Financial segment consist of the following:

     

      •  

    Banking – provides customer loan and deposit account processing; digital banking; financial and risk management; professional services and consulting; and check processing


      •  

    Digital Payments – provides debit card processing services; debit network services; security and fraud protection products; bill payment; person-to-person payments; and account-to-account transfers

     

      •  

    Issuing – provides credit card processing services; prepaid card processing services; card production services; print services; government payment processing; and student loan processing

    Corporate and Other

    Corporate and Other supports the Company’s reportable segments, and consists of amortization of acquisition-related intangible assets, unallocated corporate expenses, and other activities that are not considered when management evaluates segment performance, such as gains or losses on sales of businesses, certain assets or investments; costs associated with acquisition and divestiture activity; certain services revenue associated with various dispositions; and postage reimbursements.

    The Company expects to begin reporting its financial results based on the Segment Realignment with the filing of its Quarterly Report on Form 10-Q for the quarter ending March 31, 2024, with prior periods adjusted accordingly.

     

    Item 9.01.

    Financial Statements and Exhibits.

     

      (d)

    Exhibits.

    EXHIBIT INDEX

     

    Exhibit

    Number

      

    Description

    99.1    Supplemental expected segment revenue information (furnished pursuant to Item 2.02 of this Current Report on Form 8-K)
    104    Cover Page Interactive Data File (embedded within the Inline XBRL document)


    SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

     

      FISERV, INC.
    Date: November 15, 2023   By:   

    /s/ Robert W. Hau

         Robert W. Hau
         Chief Financial Officer
    Get the next $FISV alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $FISV

    DatePrice TargetRatingAnalyst
    1/9/2023$106.00 → $101.00Equal Weight → Underweight
    Wells Fargo
    10/12/2022$130.00 → $105.00Overweight → Neutral
    Atlantic Equities
    8/11/2022In-line → Outperform
    Evercore ISI
    7/14/2022$123.00 → $97.00Overweight → Equal Weight
    Wells Fargo
    5/18/2022$108.00Neutral
    Goldman
    5/3/2022$125.00Buy
    Loop Capital
    4/12/2022$144.00 → $126.00Outperform → Market Perform
    Cowen
    4/6/2022$110.00Equal-Weight
    Stephens
    More analyst ratings

    $FISV
    Leadership Updates

    Live Leadership Updates

    See more
    • ACI Worldwide Announces Appointment of Thomas Warsop as President and Chief Executive Officer

      ACI Worldwide (NASDAQ:ACIW), a global leader in mission-critical, real-time payments software, today announced that its Board of Directors (the "Board") has appointed Thomas Warsop as President and Chief Executive Officer, effective June 1, 2023. Warsop, a seasoned executive and financial services technology expert, has served as Interim President and CEO since November 2022. He will also continue to serve on the ACI Board, where he has been a director since 2015. Adalio Sanchez will continue as non-executive Chair of the Board. "Since joining ACI eight years ago as a member of our Board, and as Interim President and CEO over the last six months, Tom has been instrumental in the refinemen

      5/31/23 8:10:00 AM ET
      $ACIW
      $FISV
      Computer Software: Prepackaged Software
      Technology
      Business Services
      Consumer Discretionary
    • FLEETCOR Enters into Cooperation Agreement with the D. E. Shaw Group

      Company to Undertake Strategic Portfolio Review FLEETCOR Technologies, Inc. (NYSE:FLT) ("FLEETCOR" or the "Company"), a leading global business payments company, today announced it has entered into a cooperation agreement with one of its long-term shareholders, the D. E. Shaw group. As part of the agreement, FLEETCOR has appointed Rahul Gupta to the Company's Board of Directors (the "Board"), agreed to add another, mutually agreed-upon director to the Board and agreed to form an ad hoc Strategic Review Committee. Board Refresh FLEETCOR's appointment of Mr. Gupta and the Company's agreement to add a second new director advances the Company's Board refreshment process, which is intended to

      3/20/23 8:00:00 AM ET
      $FISV
      $FLT
      $MITK
      Business Services
      Consumer Discretionary
      Computer peripheral equipment
      Technology
    • Outseer Appoints Former Fiserv Executive John Filby as Chief Executive Officer

      Financial technology leader appointed with focus on scaling the company Outseer, a leading provider of payment authentication and monitoring solutions, announced today the appointment of John Filby as Chief Executive Officer. In his new role, Filby will spearhead Outseer's mission to liberate the world from transactional fraud and build on the company's heritage of innovation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220428005513/en/John Filby, CEO of Outseer (Photo: Business Wire) Throughout his 25-year career in the financial technology industry, Filby has earned a reputation as a leader who transforms businesses of all

      4/28/22 9:00:00 AM ET
      $DLX
      $FISV
      Publishing
      Consumer Discretionary
      Business Services

    $FISV
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13G/A filed by Fiserv Inc. (Amendment)

      SC 13G/A - FISERV INC (0000798354) (Subject)

      2/14/24 10:02:59 AM ET
      $FISV
      Business Services
      Consumer Discretionary
    • SEC Form SC 13G/A filed by Fiserv Inc. (Amendment)

      SC 13G/A - FISERV INC (0000798354) (Subject)

      2/13/24 5:04:36 PM ET
      $FISV
      Business Services
      Consumer Discretionary
    • SEC Form SC 13G/A filed by Fiserv Inc. (Amendment)

      SC 13G/A - FISERV INC (0000798354) (Subject)

      2/13/24 1:35:29 PM ET
      $FISV
      Business Services
      Consumer Discretionary

    $FISV
    SEC Filings

    See more
    • Fiserv Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

      8-K - FISERV INC (0000798354) (Filer)

      2/6/24 7:18:30 AM ET
      $FISV
      Business Services
      Consumer Discretionary
    • Fiserv Inc. filed SEC Form 8-K: Leadership Update

      8-K - FISERV INC (0000798354) (Filer)

      12/6/23 4:29:03 PM ET
      $FISV
      Business Services
      Consumer Discretionary
    • Fiserv Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Other Events, Financial Statements and Exhibits

      8-K - FISERV INC (0000798354) (Filer)

      11/15/23 6:36:03 AM ET
      $FISV
      Business Services
      Consumer Discretionary

    $FISV
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • ACI Worldwide Announces Appointment of Thomas Warsop as President and Chief Executive Officer

      ACI Worldwide (NASDAQ:ACIW), a global leader in mission-critical, real-time payments software, today announced that its Board of Directors (the "Board") has appointed Thomas Warsop as President and Chief Executive Officer, effective June 1, 2023. Warsop, a seasoned executive and financial services technology expert, has served as Interim President and CEO since November 2022. He will also continue to serve on the ACI Board, where he has been a director since 2015. Adalio Sanchez will continue as non-executive Chair of the Board. "Since joining ACI eight years ago as a member of our Board, and as Interim President and CEO over the last six months, Tom has been instrumental in the refinemen

      5/31/23 8:10:00 AM ET
      $ACIW
      $FISV
      Computer Software: Prepackaged Software
      Technology
      Business Services
      Consumer Discretionary
    • GE HealthCare Technologies Inc. to Join the Nasdaq-100 Index® Beginning June 7, 2023

      NEW YORK, May 30, 2023 (GLOBE NEWSWIRE) -- Nasdaq (NASDAQ:NDAQ) today announced that GE HealthCare Technologies Inc. (NASDAQ:GEHC), will become a component of the Nasdaq-100 Index® (NASDAQ:NDX), the Nasdaq-100 Equal Weighted Index (NASDAQ:NDXE), and the Nasdaq-100 Ex-Tech Sector Index (NASDAQ:NDXX) prior to market open on Wednesday, June 7, 2023. GE HealthCare Technologies Inc. will replace Fiserv, Inc. (NASDAQ:FISV) in the Nasdaq-100 Index®, the Nasdaq-100 Equal Weighted Index, and the Nasdaq-100 Ex-Tech Sector Index. Fiserv, Inc. will also be removed from the Nasdaq-100 ESG Index (NASDAQ:NDXESG) prior to market open on Wednesday, June 7, 2023. For more information about the company, go

      5/30/23 8:00:00 PM ET
      $FISV
      $GEHC
      $NDAQ
      Business Services
      Consumer Discretionary
      Medical Electronics
      Health Care
    • Fiserv to Transfer Listing to New York Stock Exchange

      New Ticker Signals Company's Commitment to Leading Fintech Innovation Fiserv, Inc. (NASDAQ:FISV), a leading global provider of payments and financial services technology solutions, today announced that it is transferring the listing of its common stock to the New York Stock Exchange (NYSE) from the NASDAQ Global Select Market (NASDAQ). The Company expects to begin trading on the NYSE June 7, 2023, under a new ticker "FI." The stock will continue to trade on NASDAQ until the transfer is complete. "As an original fintech, the Fiserv legacy of leadership is one of growth, innovation and operational excellence, with a relentless commitment to enabling our clients' success," said Frank Bisig

      5/25/23 9:25:00 AM ET
      $FISV
      Business Services
      Consumer Discretionary

    $FISV
    Financials

    Live finance-specific insights

    See more
    • Fiserv to Release First Quarter Earnings Results on April 25, 2023

      Fiserv, Inc. (NASDAQ:FISV), a leading global provider of payments and financial services technology solutions, will announce its first quarter financial results before the market opens on Tuesday, April 25, 2023. The company will discuss the results in a live webcast at 7 a.m. CT on April 25. The webcast, along with supplemental financial information, can be accessed on the investor relations section of the Fiserv website at investors.fiserv.com. A replay will be available approximately one hour after the conclusion of the live webcast. About Fiserv Fiserv, Inc. (NASDAQ:FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financ

      4/11/23 8:01:00 AM ET
      $FISV
      Business Services
      Consumer Discretionary
    • Fiserv Reports Fourth Quarter and Full Year 2022 Results

      GAAP revenue growth of 9% both in the quarter and for the full year; GAAP EPS increased 146% in the quarter and 96% for the full year; Organic revenue growth of 12% in the quarter and 11% for the full year; Adjusted EPS increased 22% in the quarter and 16% for the full year; Company expects 2023 organic revenue growth of 7% to 9% and adjusted EPS of $7.25 to $7.40, or growth of 12% to 14% Fiserv, Inc. (NASDAQ:FISV), a leading global provider of payments and financial services technology solutions, today reported financial results for the fourth quarter and full year 2022. Fourth Quarter and Full Year 2022 GAAP Results GAAP revenue for the company increased 9% to $4.63 billion in the four

      2/7/23 7:01:00 AM ET
      $FISV
      Business Services
      Consumer Discretionary
    • Fiserv to Release Fourth Quarter and Full Year Earnings Results on February 7, 2023

      Fiserv, Inc. (NASDAQ:FISV), a leading global provider of payments and financial services technology solutions, will announce its fourth quarter and full year financial results before the market opens on Tuesday, February 7, 2023. The company will discuss the results in a live webcast at 7 a.m. CT on February 7. The webcast, along with supplemental financial information, can be accessed on the investor relations section of the Fiserv website at investors.fiserv.com. A replay will be available approximately one hour after the conclusion of the live webcast. About Fiserv Fiserv, Inc. (NASDAQ:FISV) aspires to move money and information in a way that moves the world. As a global leader in pay

      1/18/23 4:01:00 PM ET
      $FISV
      Business Services
      Consumer Discretionary

    $FISV
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Fiserv downgraded by Wells Fargo with a new price target

      Wells Fargo downgraded Fiserv from Equal Weight to Underweight and set a new price target of $101.00 from $106.00 previously

      1/9/23 8:09:52 AM ET
      $FISV
      Business Services
      Consumer Discretionary
    • Fiserv downgraded by Atlantic Equities with a new price target

      Atlantic Equities downgraded Fiserv from Overweight to Neutral and set a new price target of $105.00 from $130.00 previously

      10/12/22 7:56:17 AM ET
      $FISV
      Business Services
      Consumer Discretionary
    • Fiserv upgraded by Evercore ISI

      Evercore ISI upgraded Fiserv from In-line to Outperform

      8/11/22 6:34:23 AM ET
      $FISV
      Business Services
      Consumer Discretionary

    $FISV
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Bisignano Frank gifted 125 shares and received a gift of 125 shares, decreasing direct ownership by 0.00% to 2,932,655 units (SEC Form 4)

      4 - FISERV INC (0000798354) (Issuer)

      2/15/24 4:31:25 PM ET
      $FISV
      Business Services
      Consumer Discretionary
    • Bisignano Frank gifted 15,332 shares, decreasing direct ownership by 0.52% to 2,932,780 units (SEC Form 4)

      4 - FISERV INC (0000798354) (Issuer)

      2/12/24 4:16:07 PM ET
      $FISV
      Business Services
      Consumer Discretionary
    • Miller Heidi exercised 47,929 shares at a strike of $41.75 and covered exercise/tax liability with 14,022 shares, increasing direct ownership by 122% to 61,751 units (SEC Form 4)

      4 - FISERV INC (0000798354) (Issuer)

      2/9/24 4:27:59 PM ET
      $FISV
      Business Services
      Consumer Discretionary