Fiserv Shares Drop On Cautious FY22 Outlook

• Fiserv Inc (NASDAQ:FISV) reported fourth-quarter FY21 GAAP revenue growth of 11% year-on-year to $4.26 billion and adjusted revenue growth of 11% to $4.02 billion, versus the consensus of $4.03 billion. 
• Internal revenue growth (organic, constant currency) was 11%, led by 19% growth in the Acceptance segment, 4% growth in the Fintech segment, and 8% growth in the Payments segment.
• Margin: The adjusted operating margin was flat at 35.6%.
• The adjusted EPS of $1.57 beat the consensus of $1.56.
• It held $835 million in cash and equivalents. Net cash provided by operating activities was $4.03 billion for FY21.
• Outlook: Fiserv sees FY22 organic revenue growth of 7% - 9% (11% in 2021) and adjusted EPS of $6.40 - $6.55 (consensus $6.44), implying growth of 15% - 17% (26% in 2021).
• Price Action: FISV shares traded lower by 4.36% at $101.27 on the last check Tuesday.