Fiserv Shares Fall on Earnings Details

Fiserv Inc.'s shares fell more than 3% in after-hours trading Thursday after the Brookfield, Wis., technology vendor reported earnings that missed analysts' estimates.

The company, which sells insurance technology and services, as well Internet banking, payment processing and customer management systems to banks and credit unions, said it earned 80 cents per diluted share from continuing operations in the fourth quarter, down from 83 cents a year earlier. The latest results included an 11-cent-per-share charge for early debt extinguishment.

It had adjusted earnings per share of $1.06 in the quarter, up from 94 cents per share a year earlier.

Analysts had expected Fiserv would earn $1.07 per share, according to Thomson Financial.

Fiserv said its revenue rose 1.5%, to $1.08 billion, thanks in part to the sale of additional products to existing customers.

Its net income fell 2%, to $116 million.

Fiserv's shares closed down 0.3% at $62.31 before it released earnings. They fell as much as 3.7%, to $59.99, following the results.

This story has been reprinted with permission from American Banker.

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