10-Q · May 6, 2026
Fiserv reported Q1 2026 results with total revenue of $5.03 billion, down 2% year-over-year, and diluted EPS of $1.07, which missed analyst estimates of $1.57. The Financial segment saw a significant 5% decline, while…
Earnings analysis · 10-Q
FISV earnings analysis
Filed November 4, 2026 · Our reading of the company's report
The latest report
Fiserv exceeded consensus with adjusted EPS of $1.75 versus $1.72 and revenue of $5.196 billion versus $4.84 billion. Management maintained its 2026 organic revenue outlook of (1%) to 0% and adjusted EPS outlook of…
Read full summary
Fiserv exceeded consensus with adjusted EPS of $1.75 versus $1.72 and revenue of $5.196 billion versus $4.84 billion. Management maintained its 2026 organic revenue outlook of (1%) to 0% and adjusted EPS outlook of $7.20 to $7.40, while doubling the Project Elevate savings target to $1.0 billion from $500 million. However, the $6.452 billion goodwill impairment and reported margin compression leave the overall picture mixed, and the supplied filing text does not provide exact current-quarter margin, cash-flow, balance-sheet, or segment revenue figures.
Reported figures
- Earnings per share
- $1.75
What stood out
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EPS and revenue beat estimates
Adjusted EPS was $1.75 versus the $1.72 consensus estimate, a $0.03 beat, while revenue was $5.196 billion versus the $4.84 billion estimate, a $356 million beat.
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Full-year outlook maintained
The 2026 adjusted EPS outlook remained $7.20 to $7.40, and the organic revenue outlook remained (1%) to 0%.
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Savings target doubled
Project Elevate expected savings were increased to $1.0 billion from $500 million, doubling the target by $500 million.
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Argentina FX headwind eased
Argentina-related foreign-currency losses declined to $14 million in the third quarter from $53 million a year earlier, a $39 million improvement.
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Share repurchase capacity remains
The company had authorization to repurchase 40,840,735 additional shares as of September 30, 2026, although no shares were repurchased during the quarter.
What to watch
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Large goodwill impairment
Fiserv recorded a $6.452 billion goodwill impairment, creating a significant GAAP earnings headwind and indicating elevated risk around the carrying value of acquired businesses.
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Profitability remains under pressure
The prior analysis reported significant margin compression, while the filing package does not provide the exact current-quarter operating margin. This creates a material profitability risk despite the $1.75 adjusted EPS result.
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Currency devaluation exposure
Nine-month Argentina foreign-currency losses were $23 million versus $117 million in the prior-year period; despite the improvement, the filing identifies prolonged currency devaluation and economic deterioration as risks to international results.
Management's outlook
Management maintained its 2026 organic revenue outlook of (1%) to 0% and adjusted EPS outlook of $7.20 to $7.40. Project Elevate savings target was raised to $1.0 billion from $500 million; no separate quarterly numeric guidance was provided.
Earlier filings 1
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.