NEW YORK (Thomson Financial) - Fiserv Inc. reported late Wednesday
first-quarter adjusted earnings from continuing operations of $130 million, or
78 cents a share, topping the mean estimate of analysts polled by Thomson
Reuters of 76 cents a share.
In the same period a year earlier, the company posted adjusted earnings of
$107 million, or 62 cents a share.
Revenue for the period ended March 31 rose 39% to $1.31 billion from last
year's $944 million, topping analyst expectations of $1.24 billion.
The company expects 2008 adjusted earnings from continuing operations of
$3.28 to $3.40 a share.
Analysts, on average, are looking for a profit of $3.41 a share for the
year.
Separately, the Brookfield, Wis.-based provider of technology services to
the financial industry said that Bank of America has renewed its multi-year
strategic vendor relationship with CheckFree.
Fiserv said CheckFree, which it acquired in 2007, will continue to provide
Bank of America with online consumer bill payment services through 2013.
The stock closed the regular session at $50.55.
Wanfeng Zhou
wz/wz/gm
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