Fiserv, Inc. (FISV) Q3 2022 Earnings Call Transcript

Fiserv, Inc. (NASDAQ:FISV) Q3 2022 Earnings Conference Call October 27, 2022 8:00 AM ET

Company Participants

Julie Chariell - Senior Vice President, Investor Relations

Frank Bisignano - Chairman, President & Chief Executive Officer

Bob Hau - Chief Financial Officer

Conference Call Participants

Lisa Ellis - MoffettNathanson

David Togut - Evercore ISI

Darrin Peller - Wolfe Research

Dave Koning - Baird

Tien-Tsin Huang - JPMorgan

Jason Kupferberg - Bank of America

Operator

Welcome to the Fiserv Third Quarter 2022 Quarter Earnings Conference Call. All participants will be in a listen-only mode until the question-and-answer session begins following the presentation. As a reminder, today’s call is being recorded.

At this time, I will turn the call over to Julie Chariell, Senior Vice President of Investor Relations at Fiserv.

Julie Chariell

Thank you, and good morning. With me on the call today are Frank Bisignano, our Chairman, 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 on this call along with a 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

Thank you, Julie. Before I begin, let me again welcome Julie to the team. As we announced last quarter, she moved to a new role as the Head of Strategy. Julie joins us from Bloomberg, where she was a senior equity analyst covering the fintech and payment space and has extensive experience as a sell-side analyst and investment product manager. Welcome to your first Fiserv earnings call, Julie.

Turning to the results. Overall, I am very pleased with yet another quarter of double-digit growth in both organic revenue and adjusted EPS. We continue to demonstrate the strength of our client base, depth of our partnerships and resilience of our businesses. Consumers activated more cards, continue to spend and were issued new credit. Merchants opened up new businesses, offered better experiences and took advantage of more value-added services. Financial institutions upgraded their systems and invested in new products to better compete and capture efficiencies.