Fiserv registers 11% Y/Y rise in revenues in Q4 2021
Provider of payments and financial services technology Fiserv, Inc. (NASDAQ:FISV) today reported financial results for the fourth quarter and full year 2021.
GAAP revenue for the company increased 11% to $4.26 billion in the fourth quarter of 2021 compared to the prior year period, with 18% growth in the Acceptance segment, 4% growth in the Fintech segment and 9% growth in the Payments segment.
For the full year, GAAP revenue for the company increased 9% to $16.23 billion, with 17% growth in the Acceptance segment, 4% growth in the Fintech segment and 6% growth in the Payments segment.
GAAP earnings per share was $0.50 in the fourth quarter and $1.99 for the full year of 2021, an increase of 14% and 42%, respectively, compared to the prior year periods. GAAP operating margin was 12.5% and 14.1% in the fourth quarter and full year of 2021, respectively, compared to 13.5% and 12.5% in the fourth quarter and full year of 2020, respectively. Net cash provided by operating activities was $4.03 billion for the full year of 2021 compared to $4.15 billion in the prior year.
“We are pleased with our fourth quarter results as we delivered another quarter of strong organic revenue and adjusted EPS growth,” said Frank Bisignano, President and Chief Executive Officer of Fiserv. “For 2021, Fiserv had another successful year of delivering on our growth agenda – attaining the high end of our original organic revenue growth outlook and coming in well above our original adjusted EPS outlook, all while investing in the business to fuel further growth as we innovate to provide value for our clients.”
In February 2022, the company entered into a definitive agreement to acquire Finxact, Inc, a leading developer of cloud-native digital banking solutions powering digital transformation throughout financial services. The company expects the transaction to close later this year, subject to customary approvals and closing conditions.
Fiserv expects organic revenue growth of 7% to 9% and adjusted earnings per share in a range of $6.40 to $6.55, representing growth of 15% to 17%, for 2022.