Demand
← 실적 발표
01
02
03
04 05 06
톤
AI
A1 A2 A3 A4 A5 A6
FISV
FY2026 Q1
예상 부합
Fiserv, Inc. 실적 발표
Buzzberg 분석
Clover VAS revenue grows 18%, driven by software and capital
Fiserv reported Q1 2026 results in line with expectations, with total adjusted revenue declining 2.4% and EPS of $1.79, including a 17-cent tax benefit. Management reiterated full-year guidance of 1-3% revenue growth and $8-$8.30 EPS, emphasizing improvement in the second half of the year. The company highlighted progress in Clover growth (with non-recurring headwinds masking underlying ~15% growth), significant new bank partnerships, and a massive AI-driven efficiency program (Project Elevate). Total adjusted revenue declined 2.4% to $4.68B; organic revenue down 3.6%, in line with guidance.
Buzzberg 분석 Clover VAS revenue grows 18%, driven by software and capital Fiserv reported Q1 2026 results in line with expectations, with total adjusted revenue declining 2.4% and EPS of $1.79, including a 17-cent tax benefit. Management reiterated full-year guidance of 1-3% revenue growth and $8-$8.30 EPS, emphasizing improvement in the second half of the year. The company highlighted progress in Clover growth (with non-recurring headwinds masking underlying ~15% growth), significant new bank partnerships, and a massive AI-driven efficiency program (Project Elevate). Total adjusted revenue declined 2.4% to $4.68B; organic revenue down 3.6%, in line with guidance. 전체 분석 보기분석 접기
Fiserv reported Q1 2026 results in line with expectations, with total adjusted revenue declining 2.4% and EPS of $1.79, including a 17-cent tax benefit. Management reiterated full-year guidance of 1-3% revenue growth and $8-$8.30 EPS, emphasizing improvement in the second half of the year. The company highlighted progress in Clover growth (with non-recurring headwinds masking underlying ~15% growth), significant new bank partnerships, and a massive AI-driven efficiency program (Project Elevate). Total adjusted revenue declined 2.4% to $4.68B; organic revenue down 3.6%, in line with guidance.
- Adjusted EPS $1.79 included a 17-cent favorable tax timing benefit; underlying EPS was in line with expectations.
- Clover revenue grew 6% reported but ~15% ex-non-recurring, with GPV up 9% reported and 12% ex-gateway conversion.
- Merchant segment organic revenue declined 1%, financial solutions declined 5%-6%.
FINANCIAL_SOLUTIONS 매출 성장률-5%보고값
MERCHANT 매출 성장률-1%보고값
매출$5.027B-5% 전분기 대비
주당순이익(EPS)$1.79-10% 전분기 대비
근거 있는 핵심 내용 6개
지금 중요한 점
이번 발표에서 가장 의미 있는 변화를 정리했습니다.
Demand
Commerce Hub transaction growth up nearly 200% in Q1
AI
AI reduces client inquiry resolution time by 27%
핵심 내용 3개 더 보기
Guidance
2026 is a transition year; performance visible in H2/2027
Efficiency
Project Elevate identifies hundreds of efficiency opportunities
Innovation
Stablecoin pilot to launch this summer for interbank money movement
보고 기간
보고 실적
| 지표 | 보고값 | 변화 |
|---|---|---|
| FINANCIAL_SOLUTIONS 매출 성장률 | -5% | 보고값 |
| MERCHANT 매출 성장률 | -1% | 보고값 |
| 매출 | $5.027B | -5% 전분기 대비 |
| 주당순이익(EPS) | $1.79 | -10% 전분기 대비 |
| 매출총이익률 | 54.17% | 보고값 |
| 영업이익률 | 16.67% | 보고값 |
향후 전망
향후 가이던스
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| 주당순이익(EPS) | FY2026 | $8.00–$8.30컨센서스 부합 | $8.15 | 유지 |
| 잉여현금흐름 | FY2026 | 90% | 90% | 유지 |
| 영업이익률 | FY2026 | 34% | 34% | 유지 |
| 매출 | FY2026 | 1%–3%컨센서스 부합 | 2% | 유지 |
AI, 자본지출 및 수요 분석
경영진 분석
Measured
Management acknowledges ongoing challenges (attrition, non-recurring revenue headwinds) but expresses confidence in the strategic plan and progress, emphasizing execution and forward-looking expectations.
경영진의 AI 분석
Management is leveraging AI extensively across product development, client service, and productivity, with early results showing significant reductions in feature development time and better client resolution metrics. They are also building agentic commerce capabilities for merchants and a governed AI operating layer for financial institutions, with live pilot agents at two FIs.
아래에 언급된 기업 2개 모두 표시
기업발표 이후 수익률
고객
고객
Mike Lyons
PNC expanding its relationship with Fiserv for AP/AR services signals deeper adoption of Fiserv's Cashflow Central, driving recurring revenue growth.
근거
“We expanded our longstanding digital money movement relationship with PNC Bank to include cash flow central AP and AR services for their small businesses.”
파트너
파트너
Mike Lyons
Fiserv's largest agent bank partnership with WAL expands Clover's distribution reach and should drive merchant acquisition volume for both companies.
근거
“We also announced our largest agent bank partnership in our history with Western Alliance Bank, which has more than $90 billion in assets and expands our reach with merchants across the Western U.S.”
외부 신호
공급망 알파 · 6발표 이후 수익률
Clover revenue growth is ~15% ex-non-recurring, while reported growth was only 6% due to hardware and non-recurring revenue laps; this gap will persist through Q2.
근거
“excluding higher non-recurring revenue from the first quarter of 2025, clover revenue growth would have been in the mid-teens”
Fiserv signed 27 new bank merchant referral partners and its largest agent bank partnership (Western Alliance) in Q1, expanding distribution for Clover into mid-market banking channels.
근거
“In Q1, we signed 27 new banks as merchant referral partners. We also announced our largest agent bank partnership in our history with Western Alliance Bank”
Financial Solutions attrition remains above long-term trend ('core bank account and revenue attrition remain above our long-term trend'), but management notes 'early signs that our client service initiatives have been well received', implying the trough may be near.
근거
“While core bank account and revenue attrition remain above our long-term trend, we've seen early signs that our client service initiatives have been well received.”
Clover launched two new verticals (healthcare via Practice Pay and professional services) in March, with healthcare GPV per outlet already at double-digit levels above existing merchants, indicating strong early adoption.
근거
“We are seeing promising early results with annualized GPV per healthcare outlet running at double-digit levels above our existing Clover healthcare merchants”
Commerce Hub transaction growth nearly 200% in Q1, with go-lives across petro, hospitality, and cross-border remittance customers, indicating strong momentum in the enterprise omnichannel platform.
근거
“Our broadening global releases and customer go-lives are driving Commerce Hub transaction growth, which was up nearly 200 percent in Q1.”
Fiserv completed migration of all customer activities from a significant data center just last week, part of its modernization efforts; this is a cost-saving step but may indicate the timing of capex savings.
방법론 및 범위
경영진 발언만 분석합니다. 검증된 기업 언급 2개를 모두 표시하며, 보고 실적과 향후 가이던스를 분리합니다. 공개 근거는 화자가 표시된 짧은 인용문 8개로 제한됩니다. AI 분석은 불완전하거나 틀릴 수 있으므로 중요한 주장은 원문에서 확인하세요.