Fiserv's stock drops as the company goes through another bruising 'reset'

By Emily Bary

Financial-services company cuts full-year earnings outlook, acknowledges organic revenue growth could be negative for 2026

Fiserv's new outlook acknowledges that the company could see negative organic revenue growth for the full year.

Fiserv cut its full-year outlook on Thursday in the latest disappointing development for investors in the financial-services company.

The company, which caters to merchants and financial institutions with offerings such as payment-processing and banking tools, has now signaled that organic revenue growth could turn negative for this year. Fiserv's (FISV) new full-year forecast calls for organic revenue growth in the range of negative 1% to flat. The prior forecast was for positive growth of 1% to 3%.

Adjusted earnings per share are expected to come in at $7.20 to $7.40 for 2026, whereas the company's previous outlook called for $8 to $8.30.

Fiserv's stock was falling 12% in premarket trading on Thursday. Through Wednesday's close, the stock had lost 19% on the year after falling 67% over the course of 2025.

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Seaport Research analyst Jeff Cantwell called the results "strike twelve" for the company. Fiserv dramatically lowered growth expectations last year as well.

"A 'miss & reset' by Fiserv and we feel like we've been here before," Cantwell wrote in a note to clients. "This one seems fairly broad-based, with both segments missing expectations this quarter, and then the across-the-board reductions in the full-year guidance."

Fiserv delivered second-quarter merchant-solutions revenue of $2.61 billion, down from $2.64 billion a year before and below the $2.66 billion FactSet consensus view. The merchant-solutions business includes digital-commerce and payment-processing services for sellers.

The company also logged $2.36 billion in revenue from financial solutions, which encompasses digital-payment, issuing and banking services for institutions. That was down from $2.55 billion a year earlier and below the $2.39 billion that analysts tracked by FactSet had been modeling.

Fiserv's management struck a confident tone in the press release.

"Our business continues to be supported by volume growth and strong positions in attractive markets," CEO Takis Georgakopoulos said in a statement. He took over the top post in June after Mike Lyons left for Truist Financial.

CFO Paul Todd added in the release that while Fiserv was "adjusting" its 2026 forecast, it was sticking with its medium-term growth expectations.

"Our view is there's not much for investors to be hanging onto here" in the near term, Seaport's Cantwell wrote.

-Emily Bary

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08-06-26 0836ET