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July 27, 2010 at 08:00 PM
Fiserv (FISV), a provider of information management and electronic-commerce services, said Tuesday, July 27, its non-adjusted revenue rose to $1.02 billion in the second quarter from $1 billion in last year’s second quarter, while adjusted sales grew 2% to $970 million.
GAAP earnings per share for the Brookfield, Wisc.-based company were $0.85 vs. $0.74 last year, while adjusted EPS were $1.00 compared with $0.90 in 2009. Analysts had expected adjusted EPS of $0.96 for the most-recent quarter on sales of $1.01 billion.
“Our results in the quarter included an acceleration of organic revenue growth, strong sales performance and double-digit growth in earnings per share and free cash flow,” said President and CEO Jeffery Yabuk in a press release.
Adjusted internal revenue grew by 2% in the quarter, reflecting 3% growth in the payments segment and 1% growth in the financial segment, according to the company.
The company’s adjusted operating margin of 29.6% grew 70 basis points compared with the second quarter of 2009 and the first quarter of 2010.
ZashPay, a new person-to-person payments service, was launched in the quarter, and as of June 30, more than 160 financial institutions had committed to offer the service to their customers.
