Fiserv (FISV) shares rose 12.46% on Tuesday after an encouraging third-quarter report. Non-GAAP revenue fell 1% year over year to $4.85 billion, roughly in line with consensus, while adjusted net income dropped 15% to $936 million, or $1.75 per share, slightly better than the $1.72 estimate. Fiserv said revenue erosion in its banking segment was improving, with fewer client migrations and "major client wins," and it doubled its Project Elevate savings target to $1 billion from $500 million. The company also plans to resume share buybacks, targeting $500 million in the fourth quarter alone, and kept its 2026 organic revenue guidance of a 1% decline to break-even and adjusted EPS guidance of $7.20 to $7.40.
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