Fiserv Q2 Earnings Call Highlights Fiserv logo MarketBeat Thu, August 6, 2026 at 7:04 PM GMT+2 7 min read FISV Key Points Interested in Fiserv, Inc.? Here are five stocks we like better. Fiserv lowered its full-year outlook, now expecting organic revenue growth of negative 1% to flat, adjusted revenue to decline 0.5%–1.5%, adjusted operating margin of 31%–31.5%, and adjusted EPS of $7.20–$7.40. Delayed client implementations, weaker hardware trends, Argentina-related impacts and higher technology spending are weighing on second-half results. Second-quarter adjusted revenue fell 4% to $4.96 billion, while adjusted EPS was $1.84 and free cash flow reached $1.1 billion. Clover remained a growth area, with gross payment volume up 9% and adjusted revenue growth of 11%–13% depending on exclusions. Fiserv is reviewing its portfolio and investing in its technology infrastructure, including more than $100 million in incremental second-half spending on infrastructure and cybersecurity. The company also plans to divest student loan servicing and managed ATM businesses, pursue at least $500 million in savings through Project Elevate, and use divestiture proceeds for debt reduction and shareholder returns. Fiserv's Debit Network Talks Raise a Bigger Question for Visa and Mastercard Fiserv (NASDAQ:FISV) reported second-quarter results that were in line with its guidance, while lowering its full-year revenue and margin outlook as Argentina-related pressures, delayed client implementations, hardware sales trends and additional technology spending weigh on its second-half expectations. Chief Executive Officer Takis Georgakopoulos, who recently assumed the role, said the company generated more than $1 billion in free cash flow during the quarter and continued to see growth in its Clover payments platform. Clover gross payment volume rose 9%, while Clover revenue increased 13% after adjusting for anticipation and non-recurring revenue, according to the company. → 3 Drone Stocks That Should Soar After the Summer Slump 3 Tech ETFs That Could Bounce Back After the AI Selloff "This unfortunately is a transition year with noise," Georgakopoulos said during the company's earnings call. He said the updated outlook reflects the company's "most accurate assessment" of client timelines and near-term operating conditions, rather than a structural change to its business. Second-Quarter Results and Segment Performance Total second-quarter adjusted revenue was $4.96 billion, down 4% from a year earlier, while organic revenue declined 5%. Recurring revenue grew 2% and represented 84% of adjusted revenue, according to Chief Financial Officer Paul Todd. Story Continues → Meta's Earnings Drop Shows Wall Street Wants More Than Ad Growth Block's Pivot to Profits and AI Is Turning Heads Adjusted operating income totaled nearly $1.6 billion, producing an adjusted operating margin of 31.8%. Adjusted earnings per share were $1.84, and free cash flow reached $1.1 billion, representing 112% conversion. Todd said foreign-exchange rates in Latin America reduced adjusted EPS by $0.07 year over year. Fiserv's Merchant Solutions segment reported adjusted and organic revenue declines of 1%. Small-business volume grew 2%, with the company citing the anniversary of its CCV acquisition as a factor in the lower growth rate compared with the first quarter. Enterprise transactions rose 8%. → Jersey Mike's Serves Fresh Gains After IPO Stumble Clover revenue increased 2% on a reported basis. Excluding higher non-recurring revenue in the second quarter of 2025, Clover revenue would have increased 11%, Todd said. Excluding attrition, Clover revenue would have grown 13%. Clover GPV grew 9% as reported and 11% excluding a gateway conversion. Merchant Solutions adjusted operating income declined 14% to $781 million, and the segment's adjusted operating margin was 30%. Financial Solutions adjusted and organic revenue each declined 8%, primarily reflecting higher non-recurring revenue in the year-earlier period. Within the segment, payment platform transactions increased 5%, while consumer payment platform transactions fell 1% as growth in Zelle was offset by slower Bill Pay activity. Global accounts on file increased 4%, and overall accounts and positions, including fintech, grew 6%. Financial Solutions adjusted operating income fell 27% to $912 million, with an adjusted operating margin of 38.7%. Updated 2026 Outlook Fiserv now expects full-year organic revenue growth in a range of negative 1% to flat, compared with its prior expectations for stronger second-half growth. Adjusted revenue is expected to decline between 1.5% and 0.5% for the full year. The company expects adjusted operating margin of 31% to 31.5% and adjusted EPS of $7.20 to $7.40. For the second half, Fiserv expects adjusted revenue growth of about 2%, including a low-single-digit decline in the third quarter followed by mid-single-digit growth in the fourth quarter. About 2 percentage points of second-half impact from delays in newly contracted revenue and enterprise client ramps. About 1 percentage point of impact from lower key-product and other revenue, including hardware. About 1 percentage point of impact from Argentina anticipation revenue. About 1 percentage point of impact from divestitures. Todd said the company expects to recognize the "vast majority" of delayed revenue, but at a later date. Georgakopoulos cited one large client whose planned September or October launch was delayed as the client undergoes a merger or acquisition process. Argentina anticipation revenue reduced second-quarter adjusted revenue growth by 90 basis points and adjusted operating margin by 60 basis points, Todd said. Fiserv also cited softer expected hardware sales in its merchant business, following elevated hardware sales over the prior two years. The company plans to invest more than $100 million incrementally in technology infrastructure during the second half, particularly within Financial Sol
