Fiserv Q3 EPS $2.04 Misses $2.65 Estimate, Shares Slide 44%
FISV•Fiserv reported adjusted Q3 earnings of $2.04 per share versus $2.65 expected, triggering a 44% share drop to $70.60. The company now faces a federal class action over alleged growth inflation via forced Payeezy-to-Clover migrations and a separate lawsuit over disputed cybersecurity fees.
1. October Earnings Miss
Fiserv reported adjusted earnings of $2.04 per share for the quarter ended October 30, falling short of the $2.65 analysts forecast and down from $2.30 a year earlier. The earnings shortfall, coupled with cost-cutting that impacted service delivery and reliance on short-term initiatives, prompted a 44% share price decline to close at $70.60.
2. Former CEO Stock Sales
Filings show Frank Bisignano and his family sold shares totaling roughly $560 million between May and August 2025 after his nomination as Social Security Administration commissioner, executing sales under federal ethics rules that require divestiture following confirmation.
3. Federal Class Action Suit
A federal class action in U.S. District Court alleges Fiserv misled investors by inflating growth through forced migration of customers from its Payeezy point-of-sale platform to the newer Clover system, a claim the company denies.
4. Cybersecurity Fee Lawsuit
FiCare Federal Credit Union filed suit in Florida’s Middle District Court claiming Fiserv failed to secure its online banking platform and sought additional cybersecurity fees beyond those stipulated in its contract, allegations Fiserv has denied.
