Boston, MA 05\/05\/2014 (wallstreetpr) –\u00a0The financial services technology company Fiserv Inc (NASDAQ:FISV)<\/b> said it was on track to reporting a positive 2014. The announcement came after the company noted significant improvements in its operations, in Q12014. The quarter benefited from increased sales, lower acquisition costs and higher signings of business contracts.<\/p>\n
Shares of the company jumped to a new 52-week high of $61.74 on Friday, signaling improvement in investor confidence.<\/p>\n
Q1 performance in summary<\/b><\/p>\n
Fiserv Inc (NASDAQ:FISV) reported Q1 revenue and profit growth. Moreover, the company announced that internal improvements and strengthening market conditions would help support positive performance in the upcoming quarters and the year as a whole.<\/p>\n
The adjusted revenue in Q1 was $1.15 billion, up from $1.08 billion in the corresponding quarter of 2013. The company earned adjusted per share earnings of 82 cents, up 22 percent from 67 cents in Q12013. The adjusted earnings excluded the impact of one-time expenses and acquisitions in the quarter.<\/p>\n
In view of the Q1 performance, Fiserv Inc (NASDAQ:FISV) expects adjusted revenue in 2014 to go up by at least 5 percent while EPS is expected to come between $3.28 and $3.37, signaling potential increase of about 10 \u2013 13 percent over the EPS in 2013.<\/p>\n
Maximizing shareholder value<\/b><\/p>\n
Maximizing of shareholder value is the forefront agenda at Fiserv Inc (NASDAQ:FISV). The company is not only making acquisitions of clients and assets to support future growth, but also returning money to shareholders through shares repurchase. For example, the company returned $351 million to repurchase 6.1 million shares in Q1. The repurchase also helped to strengthen the value of the remaining shares.<\/p>\n
In the quarter, the company added more clients to its Mobiliti solutions segment. It added 51 new customers to bring the total number of clients in the segment at the end of Q1 to 1,851.<\/p>\n
Balance sheet health<\/b><\/p>\n
In addition to making strategic acquisitions of customers and assets, the company can also be seen making internal improvements to curb runaway costs and expenses. In the latest quarter, Fiserv Inc (NASDAQ:FISV)\u00a0reported $17 million in savings through operational effectiveness. However, the company’s balance sheet is far from being in good health. The company’s cash and cash equivalent position dropped to $307 million from $400 million in the previous quarter. The quarter also saw long-term debts increasing to $3.85 billion from $3.76 billion in Q42013.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 05\/05\/2014 (wallstreetpr) –\u00a0The financial services technology company Fiserv Inc (NASDAQ:FISV) said it was on track to reporting a positive 2014. The announcement came […]<\/p>\n","protected":false},"author":15,"featured_media":21066,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263,1],"tags":[6312,6313],"stock_ticker":[],"class_list":["post-21064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","category-featured","tag-fiserv-inc-nasdaqfisv","tag-nasdaqfisv","entry"],"acf":[],"yoast_head":"\n