Fiserv Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Fiserv Inc. (FISV) announced earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $669 million, or $1.02 per share. This compares with $304 million, or $0.45 per share, in last year's first quarter.

Excluding items, Fiserv Inc. reported adjusted earnings of $921 million or $1.40 per share for the period.

Analysts on average had expected the company to earn $1.35 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.1% to $4.14 billion from $3.76 billion last year.

Fiserv Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $669 Mln. vs. $304 Mln. last year. -EPS (Q1): $1.02 vs. $0.45 last year. -Analyst Estimate: $1.35 -Revenue (Q1): $4.14 Bln vs. $3.76 Bln last year.

-Guidance: Full year EPS guidance: $6.40 to $6.55