The following is a summary of the Fiserv, Inc. (FI) Q1 2024 Earnings Call Transcript:

Financial Performance:

Fiserv reported Q1 adjusted earnings per share of $1.88, up 19%, reflecting ongoing revenue growth and operating margin expansion.
Adjusted revenue growth was 7% and adjusted operating margin was 35.8%, an increase of 180 basis points.
Organic revenue growth stood at 20%, leading to a raised outlook on adjusted earnings per share to a range of $8.60 to $8.75, a projected growth of 14% to 16%.
The company revised their adjusted operating margin expansion forecast for the year to at least 125 basis points, up from a previous outlook of 100 basis points.

Business Progress:

Fiserv has restructured into two segments: Merchant Solution and Financial Solution, providing a clearer view of client engagement with their solutions.
New Clover products are slated for launch within the year under Merchant Solutions, with strong demand anticipated in international markets like Germany, Netherlands, and Argentina.
The Financial Solutions segment made progress with four Finxact wins in Q1, established partnerships with Robinhood and Kuwait Finance House, and a growing foothold in digital payment solutions.
They plan to fulfil the preset 2026 targets, in which Clover is anticipated to generate $4.5 billion in revenue, with more Clover-related products to be rolled out in this year.
The company commemorates its 40-year anniversary and its success in top and bottom-line growth by placing focus on product development, service expansion, investment in personnel, and Corporate Social Responsibility, including diversity representation, community engagement, and sustainable systems.
A significant increase in the company’s engineering workforce was reported, indicating the high global demand for its platforms.
Although explicit financial data was not provided, Fiserv noted a 30% growth in new business acquisition and future plans for market expansion.