FISV earnings analysis
What we found in FISV's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Fiserv reported Q1 2026 results with total revenue of $5.03 billion, down 2% year-over-year, and diluted EPS of $1.07, which missed analyst estimates of $1.57. The Financial segment saw a significant 5% decline, while operating income decreased 34% reflecting pressure on margins and higher costs from the One Fiserv transformation program.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- EPS Outperformance vs Estimates
- Reported EPS of $1.79 exceeded estimates of $1.57 by 14%.
- Revenue Trend
- Total revenue decreased by $103 million or 2% compared to Q1 2025.
- Operating Income Decline
- Operating income dropped 34% year-over-year, from $1.4 billion to $918 million.
- Cost Management Issues
- Total expenses increased by 10% year-over-year, mainly driven by higher personnel and data processing costs.
- Improved Cash Position
- Cash and cash equivalents rose to $829 million, a slight increase from the prior quarter.
- Segment Growth in Corporate
- Corporate and Other segment revenue increased by $11 million, or 3%, compared to Q1 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Revenue Decline in Financial Solutions Segment
- Financial segment revenue dropped by 5%, significantly contributing to the overall revenue decrease.
- Operating Margin Pressure
- Total operating margin decreased by 890 bps to 18.3%, impacting profitability.
- High Capital Expenditures
- Capital expenditures increased 37% to $458 million, representing 9% of total revenue.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.07
- Operating margin
- 18.3%
- Segment
- Merchant: $2.373B
- Segment
- Financial: $2.302B
- Segment
- Corporate: $352M
What they said about what is next.
Maintained organic revenue growth outlook of 1% to 3% for 2026.
The filing reads worse than the one before it.
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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