Fiserv said total revenue for Q3 2024 rose $342 million (7%) and operating income rose $99 million (7%). The company said foreign exchange rate fluctuations reduced total revenue by 8%.

10-QQuarterly reportFiled Oct 23, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Fiserv said total revenue for Q3 2024 rose $342 million (7%) and operating income rose $99 million (7%). The company said foreign exchange rate fluctuations reduced total revenue by 8%.
The company said it recognized a non-cash impairment charge of $570 million related to the Wells Fargo Merchant Services merchant alliance in Q3 2024. It also said it recorded a deferred tax benefit of $142 million in its income tax provision in connection with the charge.
Fiserv said operating cash flow for the 9 months ended 2024 was $4.4 billion, up 24% from $3.6 billion in the prior-year period. During the same period, the company repurchased $4.3 billion of its common stock, and as of September 30, 2024, approximately 24.2 million shares remained under its existing repurchase authorization.
The company said it issued $2.0 billion of senior notes in a public offering in March 2024 and $1.75 billion of senior notes in August. As of September 30, 2024, it said its debt consisted mainly of $21.9 billion of fixed-rate senior notes and $1.6 billion of commercial paper borrowings.

Key figures

Quarter ended September 30, 2024

Revenue: $5.2B
Operating income: $1.6B
Net income: $564M
EPS: $0.98

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q3 2024 Revenue and Operating Income Changes

Fiserv said total revenue for Q3 2024 rose $342 million (7%) and operating income rose $99 million (7%). The company said foreign exchange rate fluctuations reduced total revenue by 8%.

Source · Based on the MD&A text of the filing

Wells Fargo Merchant Services Impairment

The company said it recognized a non-cash impairment charge of $570 million related to the Wells Fargo Merchant Services merchant alliance in Q3 2024. It also said it recorded a deferred tax benefit of $142 million in its income tax provision in connection with the charge.

Source · Based on the MD&A text of the filing

Operating Cash Flow and Share Repurchases

Fiserv said operating cash flow for the 9 months ended 2024 was $4.4 billion, up 24% from $3.6 billion in the prior-year period. During the same period, the company repurchased $4.3 billion of its common stock, and as of September 30, 2024, approximately 24.2 million shares remained under its existing repurchase authorization.

Source · Based on the MD&A text of the filing

Senior Notes Issuance and Debt Composition

The company said it issued $2.0 billion of senior notes in a public offering in March 2024 and $1.75 billion of senior notes in August. As of September 30, 2024, it said its debt consisted mainly of $21.9 billion of fixed-rate senior notes and $1.6 billion of commercial paper borrowings.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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