Fiserv, Inc. Q3 2026 Earnings Recap

Shares rose 12.5% after Fiserv said Q3 organic revenue had stabilized at flat year over year and reiterated that merchant and company revenue are on track to return to growth in Q4. The outlook remains a recovery story: banking still reflects elevated attrition, and Q3 revenue was not yet growing.

Key Takeaways

• Financial Solutions returned to organic revenue growth; companywide organic revenue was flat year over year in Q3.
• Management said merchant and overall company revenue are on track to return to growth in Q4, as prior-year nonrecurring revenue comparisons normalize.
• Banking remains pressured by past client attrition, though year-to-date new-core losses were down by double digits on a revenue basis, and client wins were up more than 50% from last year.
• Clover GPV grew around 10%; Commerce Hub transaction growth was 100% year over year. Total debit transactions grew at a healthy mid-single-digit rate.
• Project Elevate savings targets rose to $1 billion, supporting a long-term ambition to trend toward a 37% adjusted operating margin. Fiserv also plans $0.5 billion of share buybacks in Q4.