Fiserv Reports Revenue of $9.3B in H1 2023, but Net Income Drops

<p>Financial
services technology solutions provider Fiserv (NYSE: <a href="https://www.financemagnates.com/tag/fiserv/" target="_blank" rel="follow">FI</a>) has unveiled its financial results for Q2 2023. The publicly-listed
company has increased its overall revenue and organic revenue growth outlook, marking
another uptick in its projected performance.</p><p>Fiserv Reported Q2 2023
Results</p><p>Fiserv
reported an increase of 7% in GAAP revenue for Q2 2023, bringing the total to $4.76
billion, which is <a href="https://www.financemagnates.com/fintech/fiserv-upbeat-as-revenue-jumps-10-to-859b-in-first-half-of-2022/" target="_blank" rel="follow">up from the prior year's</a> revenue of $4.45
billion. This growth was primarily driven by the Acceptance and Payments
segments, with increases of 9% and 8%, respectively. </p><p>However,
the Fintech segment experienced a slight decrease, reporting a drop of 2% in
revenue. GAAP earnings per share (EPS) also saw a significant boost, <a href="https://www.financemagnates.com/fintech/fiserv-reports-mixed-q1-2023-results-revenue-rises-net-income-drops/" target="_blank" rel="follow">rising 20%
to $1.10 for the quarter</a> and 3% to $1.99 for H1 2023 compared to
the same period in 2022.</p><p>"We
delivered our ninth consecutive quarter of double-digit organic revenue growth,
as we sustained our momentum in merchant acceptance and expanded our digital
payments proposition for financial institutions," Frank Bisignano, the Chairman,
President and Chief Executive Officer of Fiserv, commented. He added that the
company's broad range of products and clients continues to drive its "standout
performance."</p><blockquote><p lang="en" dir="ltr">It's <a href="https://twitter.com/Fiserv?ref_src=twsrc%5Etfw">@Fiserv</a>'s lucky day