Benzinga - Fiserv, Inc. (NASDAQ: FISV) shares are trading higher after the company reported strong Q1 results and raised the bottom end of its 2023 financial guidance.
What Happened: On Tuesday before market open, Fiserv announced its first-quarter financial results for the period ended March 31, 2023. The company also provided guidance.
The Details: Fiserv reported quarterly earnings of $1.58 per share compared to the analyst consensus estimate of $1.57, representing a slight positive earnings surprise. The company reported quarterly sales of $4.55 billion compared to the analyst estimate of $4.19 billion, representing a positive earnings surprise of 8.52%.
Additionally, Fiserv adjusted its guidance for fiscal 2023. The company expects organic revenue growth in the range of 8%-9%, up from the previous guidance of 7%-9%. Fiserv also boosted its EPS outlook to the range of $7.30-$7.40, up from the previous guidance of $7.25-$7.40.
"We raised our 2023 organic revenue and adjusted EPS guidance based on our strong first-quarter results. Our guidance for the year is tempered only by the potential for a weaker, second-half economy," said Frank Bisignano, Chairman President and CEO of Fiserv.
Fiserv, Inc. aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence.
According to data from Benzinga Pro, Fiserv shares were up 3.18%, trading at $121.03 at the time of publication. The stock has a 52-week high of $119.48 and a 52-week low of $87.04.
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