Fiserv Reports Strong Q4 and Full-Year 2024 Financial Results, Highlighting Growth and Consistency
Fiserv, Inc., a global leader in payments and financial services technology solutions, today announced its financial results for the fourth quarter and full year of 2024. The company delivered robust performance across key metrics, driven by strong growth in its Merchant Solutions and Financial Solutions segments. With consistent double-digit organic revenue growth and adjusted earnings per share increases, Fiserv reaffirmed its position as a resilient and innovative player in the financial technology industry.
Fourth Quarter and Full Year 2024 GAAP Results
Revenue Growth
Fiserv reported GAAP revenue of $5.25 billion for the fourth quarter of 2024, representing a 7% increase compared to the prior year period. For the full year, GAAP revenue grew 7% to $20.46 billion, reflecting steady expansion across both segments:
- Merchant Solutions: Revenue increased 11% in Q4 and 10% for the full year.
- Financial Solutions: Revenue grew 3% in Q4 and 4% for the full year.
Earnings Per Share
GAAP earnings per share (EPS) were $1.64 in Q4 2024, a 13% increase from the prior year period, and $5.38 for the full year, up 8%. These results included notable one-time items:
- A $595 million non-cash impairment charge related to an equity method investment.
- A $147 million non-cash settlement charge for terminated pension plans in Q4.
In contrast, 2023 included a $172 million gain from the sale of the company’s financial reconciliation business.
Operating Margins
GAAP operating margins improved significantly in both segments:
- Overall Margins: Increased to 31.8% in Q4 and 28.7% for the full year, compared to 29.4% and 26.3% in the respective periods of 2023.
- Merchant Solutions: Margins expanded to 39.2% in Q4 and 37.0% for the full year, up from 37.7% and 34.1% in 2023.
- Financial Solutions: Margins rose to 51.7% in Q4 and 47.3% for the full year, compared to 48.4% and 45.9% in 2023.
Net cash provided by operating activities totaled $6.63 billion for the full year 2024, underscoring the company’s strong cash generation capabilities.
Leadership Commentary
“Fiserv’s track record of growth and consistency continued through 2024 — our fourth consecutive year of double-digit organic revenue growth and 39th consecutive year of double-digit adjusted earnings per share growth,” said Frank Bisignano, Chairman and CEO of Fiserv. “The strength and sustainability of Fiserv’s performance is a testament to our unparalleled business model, which generates high recurring revenue, strong incremental margin, and healthy free cash flow.”
Bisignano emphasized that the company’s success stems from its ability to deliver integrated solutions tailored to the evolving needs of financial institutions and merchants.
Non-GAAP Results and Key Metrics
Adjusted Revenue and Organic Growth
- Adjusted revenue increased 7% to $4.90 billion in Q4 and $19.12 billion for the full year 2024.
- Organic revenue growth was particularly strong:
- Q4: 13% overall, with 23% growth in Merchant Solutions and 4% growth in Financial Solutions.
- Full Year: 16% overall, led by 27% growth in Merchant Solutions and 6% growth in Financial Solutions.
Adjusted Earnings Per Share
Adjusted EPS rose 15% to $2.51 in Q4 and 17% to $8.80 for the full year, reflecting operational efficiencies and disciplined cost management.
Adjusted Operating Margins
- Overall margins expanded by 180 basis points to 42.9% in Q4 and 170 basis points to 39.4% for the full year.
- Merchant Solutions: Margins improved by 150 basis points to 39.2% in Q4 and 290 basis points to 37.0% for the full year.
- Financial Solutions: Margins grew by 320 basis points to 51.7% in Q4 and 130 basis points to 47.3% for the full year.
Share Repurchases and Recognition
Fiserv demonstrated its commitment to returning value to shareholders through significant share repurchases:
- Q4: Repurchased 6.1 million shares for $1.3 billion.
- Full Year: Repurchased 33.9 million shares for $5.5 billion.
In January 2025, Fiserv was named one of Fortune® World’s Most Admired Companies™, a recognition it has received in 10 of the last 11 years. This accolade highlights the company’s reputation for innovation, leadership, and corporate responsibility.
Outlook for 2025
Fiserv provided guidance for 2025, reflecting confidence in its ability to sustain growth and operational excellence:
- Organic Revenue Growth: Expected to range from 10% to 12%.
- Adjusted EPS: Projected between $10.10 and $10.30, representing growth of 15% to 17%.
“We are confident in our ability to meet or beat the medium-term outlook provided at our November 2023 investor conference,” said Bisignano. “Our 2025 guidance reflects a continuation of our product, client, and distribution strategies, along with our unwavering commitment to operational excellence to drive outperformance.”
Segment Realignment
In the first quarter of 2024, Fiserv realigned its reportable segments to better align with its integrated portfolio of products and solutions for financial institution clients. The new segments are:
- Merchant Solutions
- Financial Solutions
This realignment enhances operational performance and provides greater clarity into the company’s strategic focus. Historical results for Q4 and the full year 2023 have been recast to reflect this change.
