Fiserv Q1 2026 revenue falls 2% and GAAP EPS drops 29%; 2026 outlook affirmed
Fiserv reported first-quarter 2026 GAAP revenue of $5.03 billion, down 2% from a year earlier, and GAAP earnings per share of $1.07, down 29%. Adjusted EPS was $1.79, down 16%, and the company reaffirmed its 2026 organic revenue growth outlook of 1% to 3% and adjusted EPS outlook of $8.00 to $8.30. Shareholders see lower quarterly earnings, but the full-year guidance was not cut.
Key points
- GAAP operating margin was 18.3% versus 27.2% a year earlier; adjusted operating margin was 29.7% versus 37.8%.
- Free cash flow was $259 million versus $371 million; net cash from operating activities was $599 million versus $648 million.
- GAAP results included a net $254 million income tax benefit from the release of foreign valuation allowances.
- The company repurchased 3.3 million shares for $200 million in the quarter and will hold an Investor Day on May 14.
The filing
Written by AI on Nov 8, 2026, 1:30 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 05, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.