Fiserv shares drop as weak segments drag revenue lower
Fiserv shares fell 7.7 percent after the company missed revenue targets due to weak merchant and financial solutions. Adjusted revenue reached 4.68 billion dollars.
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FISERV INC missed first-quarter revenue estimates as adjusted sales of $4.68 billion trailed the $4.73 billion LSEG analyst consensus. Shares in the Wisconsin based firm slipped 7.7% in premarket trading on Tuesday, extending a 12-month decline of nearly 66%. Investors are weighing whether execution issues and slowing merchant growth will derail the payment processor's recovery plans.
