Fiserv
Q1 2022 Earnings Call
Apr 27, 2022, 8:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Welcome to the Fiserv 2022 first quarter earnings conference call. [Operator instructions] As a reminder, today's call is being recorded. At this time, I will turn the call over to Shub Mukherjee, senior vice president of investor relations at Fiserv.
Shub Mukherjee -- Senior Vice President, Investor Relations
Thank you, and good morning. With me on the call today are Frank Bisignano, our president and chief executive officer; and Bob Hau, our chief financial officer. Our earnings release and supplemental materials for the quarter are available on the investor relations section of fiserv.com. Please refer to these materials for an explanation of the non-GAAP financial measures discussed in this call, along with the reconciliation of those measures to the nearest applicable GAAP measures.
Unless otherwise stated, performance references are year-over-year comparisons. Our remarks today will include forward-looking statements about, among other matters, expected operating and financial results and strategic initiatives. Forward-looking statements may differ materially from actual results and are subject to a number of risks and uncertainties. You should refer to our earnings release for a discussion of these risk factors.
And now, over to Frank.
Frank Bisignano -- President and Chief Executive Officer
Thank you, Shub, and thank you all for listening in as we share our results for the quarter and highlight the progress against our growth agenda. As you know, we serve as the operating system for commerce and money movement across our client base of banks, credit unions, fintechs, and businesses ranging from SMBs to mid-market to large enterprises. We help our clients grow by extending our platform to capture new services and new money flows. Our relentless pursuit of innovation for our clients has placed us on the list of the world's Most Innovative Companies by Fast Company for the second consecutive year.
We've entered 2022 with strong momentum. We delivered 11% total company organic revenue growth in the first quarter. We expanded adjusted operating margin by 60 basis points to 32%. We also achieved 20% adjusted EPS growth to $1.40.
We attained $40 million of actioned revenue synergies in the quarter, reaching $520 million since the merger, 87% of the increased commitment of $600 million for the five-year period following the merger, and now expect to hit that goal by the end of this year. As we shared with you on our year-end 2021 earnings call, we concluded our cost synergy program, having actioned the promised $1.2 billion of synergies since the closing of the merger. As we invested to accelerate growth, free cash flow came in at $603 million. The outperformance on the top and bottom line versus our full year guidance ranges puts us in a good position to meet or exceed our full year outlook.