Fiserv Shares Fall as Company Cuts Annual Profit Outlook
Fiserv lowered its full-year adjusted earnings forecast to between $7.20 and $7.40 per share following a decline in merchant and financial solutions revenue. The payments processor also reduced its organic revenue outlook as activist investor Jana Partners increases pressure for a strategic review.
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FISERV INC cut its full-year profit forecast on August 6 after growth in its core business units stalled during the second quarter. Shares of the payments processor fell nearly 12% in premarket trading following the announcement. The revision signals deepening struggles for a company that has already seen its market value drop 20% this year.
