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Reuters
4 days ago
- Business
- Reuters
Wealth Express Launches Transparent Life Insurance Solution to Combat Digital Pricing Deception
ST. PETERSBURG, FL, August 14, 2025 (EZ Newswire) -- Wealth Express, opens new tab, a consumer-first financial solutions platform committed to providing transparency and trust in financial services, today announced the launch of its latest solution: Wealth Express Term Life Insurance with Guaranteed Pricing, opens new tab. This new offering was created to restore confidence for families who have experienced deceptive digital pricing practices, such as bait-and-switch life insurance quotes. Fixing the Trust Gap in Digital Life Insurance With the rise of algorithm-driven life insurance platforms, many families are lured in by attractively low quotes — only to be approved at rates nearly double the original estimate. This "bait-and-switch" model, often marketed as digital convenience, leaves many feeling misled and unprotected. Wealth Express's new life insurance solution offers: 'Families shouldn't be forced to choose between fair pricing and convenience,' said Rob Graham, co-founder of Wealth Express. 'Our life insurance solution removes the guesswork, eliminates surprise price hikes and puts a human advisor back into the equation — because financial protection should build trust, not erode it.' The solution is specifically designed for working parents aged 35 to 50 who want to protect their families without being taken advantage of by hidden fees, digital bait-and-switch tactics or inflated 'convenience' markups. No More "Convenience Tax" According to internal research, many digital platforms charge up to 50% more for the same level of life insurance coverage, simply because they bypass traditional exams. Wealth Express offers the same ease — without the hidden premium. Families know exactly what they'll pay, before they ever commit. Implementation is available immediately through Wealth Express's online platform and licensed advisor network, who work directly with clients to determine the right level of coverage at a rate that doesn't change behind the scenes. About Wealth Express Wealth Express® connects individuals and families with licensed, independent financial professionals who specialize in transparent, principal-protected financial solutions. Whether securing affordable life insurance, building guaranteed retirement income or preserving generational wealth, Wealth Express helps Americans access the tools, advisors and clarity they need to plan with confidence. Built for hardworking Americans, Wealth Express believes wealth is more than money — it's peace of mind, clarity and the assurance that the future is secure. By meeting people where they are and delivering zero-risk, advisor-supported solutions, the company makes real, achievable wealth possible for everyday families. Through its nationwide network of independent certified financial advisors, Wealth Express offers top products from leading carriers, prioritizing protection over volatility and empowerment over confusion. From life insurance to retirement income planning, Wealth Express is committed to making life's biggest financial decisions simpler, safer and smarter. That's Wealth That Works.™ Learn more at opens new tab. Media Contact Richard Lorenzenrlorenzen@ ### SOURCE: Wealth Express Copyright 2025 EZ Newswire See release on EZ Newswire
Yahoo
23-07-2025
- Business
- Yahoo
Fiserv Reports Second Quarter 2025 Results
GAAP revenue growth of 8% in the quarter and 7% year to date;GAAP EPS increased 22% in both the quarter and year to date;Organic revenue growth of 8% in both the quarter and year to date;Adjusted EPS increased 16% in the quarter and 15% year to date;Company refines 2025 organic revenue growth outlook to approximately 10%and adjusted EPS outlook to $10.15 to $10.30, or growth of 15% to 17% MILWAUKEE, July 23, 2025--(BUSINESS WIRE)--Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology solutions, today reported financial results for the second quarter of 2025. Second Quarter 2025 GAAP Results GAAP revenue for the company increased 8% to $5.52 billion in the second quarter of 2025 compared to the prior year period, with 10% growth in the Merchant Solutions segment and 7% growth in the Financial Solutions segment. GAAP revenue for the company increased 7% to $10.65 billion in the first six months of 2025 compared to the prior year period, with 8% growth in the Merchant Solutions segment and 7% growth in the Financial Solutions segment. GAAP earnings per share was $1.86 in the second quarter and $3.36 in the first six months of 2025, an increase of 22% compared to both the second quarter and first six months of 2024. GAAP operating margin was 30.7% and 29.0% in the second quarter and first six months of 2025 compared to 28.0% and 26.1% in the second quarter and first six months of 2024. GAAP operating margin in the Merchant Solutions segment was 34.6% and 34.4% in the second quarter and first six months of 2025 compared to 36.6% and 35.4% in the second quarter and first six months of 2024. GAAP operating margin in the Financial Solutions segment was 48.7% and 48.1% in the second quarter and first six months of 2025 compared to 45.9% and 45.0% in the second quarter and first six months of 2024. Net cash provided by operating activities was $2.31 billion in the first six months of 2025 compared to $2.17 billion in the prior year period. "Our second quarter results of 8% organic revenue growth and 16% adjusted earnings per share growth again demonstrated the power of our diverse business serving both merchants and financial institutions," said Mike Lyons, Chief Executive Officer of Fiserv. "We continue to make progress on our key strategic initiatives focused on client-centric innovation, deepening client relationships, and operational efficiency, to drive strong and durable performance." Second Quarter 2025 Non-GAAP Results and Additional Information Adjusted revenue increased 8% to $5.20 billion in the second quarter and 7% to $9.98 billion in the first six months of 2025 compared to the prior year periods. Organic revenue growth was 8% in the second quarter of 2025, led by 9% growth in the Merchant Solutions segment and 7% growth in the Financial Solutions segment. Organic revenue growth was 8% in the first six months of 2025, led by 9% growth in the Merchant Solutions segment and 6% growth in the Financial Solutions segment. Adjusted earnings per share increased 16% to $2.47 in the second quarter and 15% to $4.61 in the first six months of 2025 compared to the prior year periods. Adjusted operating margin increased 120 basis points to 39.6% in the second quarter and 150 basis points to 38.7% in the first six months of 2025 compared to the prior year periods. Adjusted operating margin was 34.6% and 36.6% in the Merchant Solutions segment and 48.7% and 45.9% in the Financial Solutions segment in the second quarter of 2025 and 2024, respectively. Adjusted operating margin was 34.4% and 35.4% in the Merchant Solutions segment and 48.1% and 45.0% in the Financial Solutions segment in the first six months of 2025 and 2024, respectively. Free cash flow was $1.54 billion in the first six months of 2025 compared to $1.48 billion in the prior year period. The company repurchased 12.2 million shares of common stock for $2.2 billion in the second quarter and 21.9 million shares of common stock for $4.4 billion in the first six months of 2025. The company completed a public offering of 2.175 billion Euros of 3-year, 7-year and 11-year senior notes with a weighted average coupon rate of 3.43%. In June 2025, the company entered into an agreement to acquire the remaining 49.9% ownership interest in AIB Merchant Services, an Ireland-based payments solution provider. In June 2025, the company announced plans to launch a new digital asset platform, including a new stablecoin (FIUSD), that allows financial institutions and merchants to access digital assets through a simple, secure and scalable solution. Fiserv was named to CNBC's World's Top Fintech Companies for 2025, for the third consecutive year, as well as to the TIME100 Most Influential Companies 2025 list. Outlook for 2025 Fiserv refines organic revenue growth outlook to approximately 10% and adjusted earnings per share to $10.15 to $10.30, representing growth of 15% to 17%, for 2025. "We made several refinements to our guidance based on our year-to-date performance and current business activity levels," said Lyons. "We are encouraged by our strong pipeline, recent client wins, and the quality of our strategic initiatives, and expect to deliver Fiserv's 40th consecutive year of double-digit adjusted earnings per share growth." Earnings Conference Call The company will discuss its second quarter 2025 results in a live webcast at 7 a.m. CT on Wednesday, July 23, 2025. The webcast, along with supplemental financial information, can be accessed on the investor relations section of the Fiserv website at A replay will be available approximately one hour after the conclusion of the live webcast. About Fiserv Fiserv, Inc. (NYSE: FI), a Fortune 500™ company, moves more than money. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and Clover®, the world's smartest point-of-sale system and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World's Most Admired Companies™. Visit and follow on social media for more information and the latest company news. Use of Non-GAAP Financial Measures In this news release, the company supplements its reporting of information determined in accordance with generally accepted accounting principles ("GAAP"), such as revenue, operating income, operating margin, net income attributable to Fiserv, diluted earnings per share and net cash provided by operating activities, with "adjusted revenue," "adjusted revenue growth," "organic revenue," "organic revenue growth," "adjusted operating income," "adjusted operating margin," "adjusted net income," "adjusted earnings per share," "adjusted earnings per share growth," and "free cash flow." Management believes that adjustments for certain non-cash or other items and the exclusion of certain pass-through revenue and expenses should enhance shareholders' ability to evaluate the company's performance, as such measures provide additional insights into the factors and trends affecting its business. Therefore, the company excludes these items from its GAAP financial measures to calculate these unaudited non-GAAP measures. The corresponding reconciliations of these unaudited non-GAAP financial measures to the most comparable GAAP measures are included in this news release, except for forward-looking measures where a reconciliation to the corresponding GAAP measures is not available due to the variability, complexity and limited visibility of the non-cash and other items described below that are excluded from the non-GAAP outlook measures. See pages 14-16 for additional information regarding the company's forward-looking non-GAAP financial measures. Examples of non-cash or other items may include, but are not limited to, non-cash intangible asset amortization expense associated with acquisitions; non-cash impairment charges; merger and integration costs; severance costs; gains or losses from the sale of businesses, certain assets or investments; and certain discrete tax benefits and expenses. The company excludes these items to more clearly focus on the factors management believes are pertinent to the company's operations, and management uses this information to make operating decisions, including the allocation of resources to the company's various businesses. The company adjusts its non-GAAP results to exclude amortization of acquisition-related intangible assets as such amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size of acquisitions. Management believes that the adjustment of acquisition-related intangible asset amortization supplements GAAP information with a measure that can be used to assess the comparability of operating performance. Although the company excludes amortization from acquisition-related intangible assets from its non-GAAP expenses, management believes that it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation. Management believes organic revenue growth is useful because it presents revenue growth excluding the impact of foreign currency fluctuations, acquisitions, dispositions and the impact of the company's postage reimbursements. Management believes free cash flow is useful to measure the funds generated in a given period that are available for debt service requirements and strategic capital decisions. Management believes this supplemental information enhances shareholders' ability to evaluate and understand the company's core business performance. These unaudited non-GAAP measures may not be comparable to similarly titled measures reported by other companies and should be considered in addition to, and not as a substitute for, revenue, operating income, operating margin, net income attributable to Fiserv, diluted earnings per share and net cash provided by operating activities or any other amount determined in accordance with GAAP. Forward-Looking Statements This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding anticipated organic revenue growth, adjusted earnings per share, adjusted earnings per share growth and other statements regarding our future financial performance. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "could," "should," "confident," "likely," "plan," or words of similar meaning. Statements that describe the company's future plans, outlook, objectives or goals are also forward-looking statements. Forward-looking statements are subject to assumptions, risks and uncertainties that may cause actual results to differ materially from those contemplated by such forward-looking statements. The factors that could cause the company's actual results to differ materially include, among others, the following: the company's ability to compete effectively against new and existing competitors and to continue to introduce competitive new products and services on a timely, cost-effective basis; changes in customer demand for the company's products and services; the ability of the company's technology to keep pace with a rapidly evolving marketplace; the success of the company's merchant alliances, some of which are not controlled by the company; the impact of a security breach or operational failure on the company's business, including disruptions caused by other participants in the global financial system; losses due to chargebacks, refunds or returns as a result of fraud or the failure of the company's vendors and merchants to satisfy their obligations; changes in local, regional, national and international economic or political conditions, including those resulting from heightened inflation, rising interest rates, taxes, trade policies and tariffs, a recession, bank failures, or intensified international hostilities, and the impact they may have on the company and its employees, clients, vendors, supply chain, operations and sales; the effect of proposed and enacted legislative and regulatory actions affecting the company or the financial services industry as a whole; the company's ability to comply with government regulations and applicable card association and network rules; the protection and validity of intellectual property rights; the outcome of pending and future litigation and governmental proceedings; the company's ability to successfully identify, complete and integrate acquisitions, and to realize the anticipated benefits associated with the same; the impact of the company's growth strategies; the company's ability to attract and retain key personnel; adverse impacts from currency exchange rates or currency controls; changes in corporate tax and interest rates; and other factors included in "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 31, 2024, and in other documents that the company files with the Securities and Exchange Commission, which are available at You should consider these factors carefully in evaluating forward-looking statements and are cautioned not to place undue reliance on such statements. The company assumes no obligation to update any forward-looking statements, which speak only as of the date of this news release. Fiserv, Inc. Condensed Consolidated Statements of Income (In millions, except per share amounts, unaudited) Three Months EndedJune 30, Six Months EndedJune 30, 2025 2024 2025 2024 Revenue Processing and services $ 4,304 $ 4,140 $ 8,349 $ 8,140 Product 1,212 967 2,297 1,850 Total revenue 5,516 5,107 10,646 9,990 Expenses Cost of processing and services 1,412 1,343 2,801 2,697 Cost of product 694 639 1,378 1,290 Selling, general and administrative 1,711 1,697 3,393 3,394 Net loss (gain) on sale of other assets 3 — (17 ) — Total expenses 3,820 3,679 7,555 7,381 Operating income 1,696 1,428 3,091 2,609 Interest expense, net (365 ) (285 ) (696 ) (546 ) Other expense, net (39 ) (5 ) (57 ) (12 ) Income before income taxes and loss from investments in unconsolidated affiliates 1,292 1,138 2,338 2,051 Income tax provision (246 ) (221 ) (436 ) (374 ) Loss from investments in unconsolidated affiliates (16 ) (8 ) (24 ) (16 ) Net income 1,030 909 1,878 1,661 Less: net income attributable to noncontrolling interests 4 15 1 32 Net income attributable to Fiserv $ 1,026 $ 894 $ 1,877 $ 1,629 GAAP earnings per share attributable to Fiserv — diluted $ 1.86 $ 1.53 $ 3.36 $ 2.76 Diluted shares used in computing earnings per share attributable to Fiserv 552.7 585.4 558.7 590.1 Earnings per share is calculated using actual, unrounded amounts. Fiserv, Inc. Reconciliation of GAAP to Adjusted Net Income and Adjusted Earnings Per Share (In millions, except per share amounts, unaudited) Three Months EndedJune 30, Six Months EndedJune 30, 2025 2024 2025 2024 GAAP net income attributable to Fiserv $ 1,026 $ 894 $ 1,877 $ 1,629 Adjustments: Merger and integration costs 1 8 22 23 59 Severance costs 14 21 29 63 Amortization of acquisition-related intangible assets 2 341 370 672 739 Non wholly-owned entity activities 3 9 26 29 54 Tax impact of adjustments 4 (73 ) (88 ) (147 ) (183 ) Incremental executive compensation 5 — — 52 — Argentine Peso devaluation 6 39 — 39 — Adjusted net income $ 1,364 $ 1,245 $ 2,574 $ 2,361 GAAP earnings per share attributable to Fiserv - diluted $ 1.86 $ 1.53 $ 3.36 $ 2.76 Adjustments - net of income taxes: Merger and integration costs 1 0.01 0.03 0.03 0.08 Severance costs 0.02 0.03 0.04 0.09 Amortization of acquisition-related intangible assets 2 0.50 0.50 0.97 1.00 Non wholly-owned entity activities 3 0.01 0.04 0.04 0.07 Incremental executive compensation 5 — — 0.09 — Argentine Peso devaluation 6 0.07 — 0.07 — Adjusted earnings per share $ 2.47 $ 2.13 $ 4.61 $ 4.00 GAAP earnings per share attributable to Fiserv growth 22 % 22 % Adjusted earnings per share growth 16 % 15 % See pages 3-4 for disclosures related to the use of non-GAAP financial measures. Earnings per share is calculated using actual, unrounded amounts. 1 Represents acquisition and related integration costs incurred in connection with acquisitions. Merger and integration costs associated with integration activities include $3 million and $5 million of third-party professional service fees in the second quarter and first six months of 2025, respectively, as well as $11 million related to a legal settlement in the first six months of 2025. Merger and integration costs associated with integration activities in the second quarter and first six months of 2024 primarily include $13 million and $22 million of share-based compensation, as well as $13 million of third-party professional service fees in the first six months of 2024. 2 Represents amortization of intangible assets acquired through acquisition, including customer relationships, software/technology and trade names. This adjustment does not exclude the amortization of other intangible assets such as contract costs (sales commissions and deferred conversion costs), capitalized and purchased software, financing costs and debt discounts. See additional information on page 13 for an analysis of the company's amortization expense. 3 Represents the company's share of amortization of acquisition-related intangible assets at its unconsolidated affiliates, as well as the minority interest share of amortization of acquisition-related intangible assets at its subsidiaries in which the company holds a controlling financial interest. 4 The tax impact of adjustments is calculated using a tax rate of 19.5% and 20% in the first six months of 2025 and 2024, respectively, which approximates the company's anticipated annual effective tax rates. 5 Represents incremental compensation expense associated with the transition of the company's Chief Executive Officer ("CEO"), comprised of $40 million of former CEO non-cash share-based compensation and related employer payroll taxes, and a $12 million cash replacement award paid to the company's newly appointed CEO. 6 The Argentine government announced economic policy changes, including the removal of certain currency controls, resulting in a significant devaluation of the Argentine Peso on April 14, 2025. This adjustment represents the corresponding one-day foreign currency exchange loss from the remeasurement of the company's Argentina subsidiary's monetary assets and liabilities in Argentina's highly inflationary economy. Fiserv, Inc. Financial Results by Segment (In millions, unaudited) Three Months EndedJune 30, Six Months EndedJune 30, 2025 2024 2025 2024 Total Company Revenue $ 5,516 $ 5,107 $ 10,646 $ 9,990 Adjustments: Postage reimbursements (320 ) (313 ) (661 ) (653 ) Adjusted revenue $ 5,196 $ 4,794 $ 9,985 $ 9,337 Operating income $ 1,696 $ 1,428 $ 3,091 $ 2,609 Adjustments: Merger and integration costs 8 22 23 59 Severance costs 14 21 29 63 Amortization of acquisition-related intangible assets 341 370 672 739 Incremental executive compensation — — 52 — Adjusted operating income $ 2,059 $ 1,841 $ 3,867 $ 3,470 Operating margin 30.7 % 28.0 % 29.0 % 26.1 % Adjusted operating margin 39.6 % 38.4 % 38.7 % 37.2 % Merchant Solutions ("Merchant") 1 Revenue $ 2,644 $ 2,410 $ 5,016 $ 4,663 Operating income $ 914 $ 882 $ 1,724 $ 1,651 Operating margin 34.6 % 36.6 % 34.4 % 35.4 % Financial Solutions ("Financial") 1 Revenue $ 2,552 $ 2,379 $ 4,969 $ 4,664 Operating income $ 1,244 $ 1,093 $ 2,392 $ 2,101 Operating margin 48.7 % 45.9 % 48.1 % 45.0 % Corporate and Other Revenue $ 320 $ 318 $ 661 $ 663 Adjustments: Postage reimbursements (320 ) (313 ) (661 ) (653 ) Adjusted revenue $ — $ 5 $ — $ 10 Operating loss $ (462 ) $ (547 ) $ (1,025 ) $ (1,143 ) Adjustments: Merger and integration costs 8 22 23 59 Severance costs 14 21 29 63 Amortization of acquisition-related intangible assets 341 370 672 739 Incremental executive compensation ... — — 52 — Adjusted operating loss $ (99 ) $ (134 ) $ (249 ) $ (282 ) See pages 3-4 for disclosures related to the use of non-GAAP financial measures. Operating margin percentages are calculated using actual, unrounded amounts. 1 For all periods presented in the Merchant and Financial segments, there were no adjustments to GAAP measures presented and thus the adjusted measures are equal to the GAAP measures presented. Fiserv, Inc. Condensed Consolidated Statements of Cash Flows (In millions, unaudited) Six Months Ended June 30, 2025 2024 Cash flows from operating activities Net income $ 1,878 $ 1,661 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and other amortization 897 815 Amortization of acquisition-related intangible assets 673 744 Amortization of financing costs and debt discounts 22 22 Share-based compensation 215 185 Deferred income taxes (215 ) (207 ) Net gain on sale of other assets (17 ) — Loss from investments in unconsolidated affiliates 24 16 Distributions from unconsolidated affiliates 22 19 Non-cash foreign currency exchange losses 65 50 Other operating activities (6 ) (15 ) Changes in assets and liabilities, net of effects from acquisitions: Trade accounts receivable (280 ) (176 ) Prepaid expenses and other assets (612 ) (420 ) Contract costs (121 ) (104 ) Accounts payable and other liabilities (272 ) (448 ) Contract liabilities 40 30 Net cash provided by operating activities 2,313 2,172 Cash flows from investing activities Capital expenditures, including capitalized software and other intangibles (814 ) (768 ) Payments for acquisition of businesses, net of cash acquired (337 ) — Merchant cash advances, net (539 ) (451 ) Distributions from unconsolidated affiliates 13 39 Purchases of investments (41 ) (35 ) Proceeds from sale of investments 474 8 Other investing activities (19 ) — Net cash used in investing activities (1,263 ) (1,207 ) Cash flows from financing activities Debt proceeds 3,679 3,189 Debt repayments (2,360 ) (1,457 ) Net borrowings from commercial paper and short-term borrowings 1,925 532 Payments of debt financing costs (5 ) (14 ) Proceeds from issuance of treasury stock 37 58 Purchases of treasury stock, including employee shares withheld for tax obligations (4,642 ) (3,230 ) Settlement activity, net 200 (150 ) Distributions paid to noncontrolling interests and redeemable noncontrolling interest — (41 ) Payment to acquire noncontrolling interest of consolidated subsidiary (22 ) — Other financing activities 22 (1 ) Net cash used in financing activities (1,166 ) (1,114 ) Effect of exchange rate changes on cash and cash equivalents 92 (12 ) Net change in cash and cash equivalents (24 ) (161 ) Cash and cash equivalents, beginning balance 2,993 2,963 Cash and cash equivalents, ending balance $ 2,969 $ 2,802 Fiserv, Inc. Condensed Consolidated Balance Sheets (In millions, unaudited) June 30, December 31, 2025 2024 Assets Cash and cash equivalents $ 999 $ 1,236 Trade accounts receivable – net 4,116 3,725 Prepaid expenses and other current assets 3,805 3,087 Settlement assets 17,554 15,429 Total current assets 26,474 23,477 Property and equipment – net 2,585 2,374 Customer relationships – net 5,538 5,868 Other intangible assets – net 4,880 4,072 Goodwill 37,465 36,584 Contract costs – net 1,005 996 Investments in unconsolidated affiliates 1,071 1,506 Other long-term assets 2,513 2,299 Total assets $ 81,531 $ 77,176 Liabilities and Equity Accounts payable and other current liabilities $ 4,351 $ 4,799 Short-term and current maturities of long-term debt 1,528 1,110 Contract liabilities 885 819 Settlement obligations 17,554 15,429 Total current liabilities 24,318 22,157 Long-term debt 28,059 23,730 Deferred income taxes 2,189 2,477 Long-term contract liabilities 249 263 Other long-term liabilities 953 863 Total liabilities 55,768 49,490 Fiserv shareholders' equity 25,215 27,068 Noncontrolling interests 548 618 Total equity 25,763 27,686 Total liabilities and equity $ 81,531 $ 77,176 Fiserv, Inc. Selected Non-GAAP Financial Measures and Additional Information (In millions, unaudited) Organic Revenue Growth 1 Three Months EndedJune 30, Six Months EndedJune 30, 2025 2024 Growth 2025 2024 Growth Total Company Adjusted revenue $ 5,196 $ 4,794 $ 9,985 $ 9,337 Currency impact 2 47 — 124 — Acquisition adjustments (65 ) — (76 ) — Divestiture adjustments — (5 ) — (10 ) Organic revenue $ 5,178 $ 4,789 8% $ 10,033 $ 9,327 8% Merchant Adjusted revenue $ 2,644 $ 2,410 $ 5,016 $ 4,663 Currency impact 2 49 — 118 — Acquisition adjustments (55 ) — (63 ) — Organic revenue $ 2,638 $ 2,410 9% $ 5,071 $ 4,663 9% Financial Adjusted revenue $ 2,552 $ 2,379 $ 4,969 $ 4,664 Currency impact 2 (2 ) — 6 — Acquisition adjustments (10 ) — (13 ) — Organic revenue $ 2,540 $ 2,379 7% $ 4,962 $ 4,664 6% Corporate and Other Adjusted revenue $ — $ 5 $ — $ 10 Divestiture adjustments — (5 ) — (10 ) Organic revenue $ — $ — $ — $ — See pages 3-4 for disclosures related to the use of non-GAAP financial measures. Organic revenue growth is calculated using actual, unrounded amounts. 1 Organic revenue growth is measured as the change in adjusted revenue (see page 9) for the current period excluding the impact of foreign currency fluctuations and revenue attributable to acquisitions and dispositions, divided by adjusted revenue from the prior period excluding revenue attributable to dispositions. 2 Currency impact is measured as the increase or decrease in adjusted revenue for the current period by applying prior period foreign currency exchange rates to present a constant currency comparison to prior periods. Fiserv, Inc. Selected Non-GAAP Financial Measures and Additional Information (cont.) (In millions, unaudited) Free Cash Flow Six Months EndedJune 30, 2025 2024 Net cash provided by operating activities $ 2,313 $ 2,172 Capital expenditures (814 ) (768 ) Adjustments: Distributions paid to noncontrolling interests and redeemable noncontrolling interest — (41 ) Distributions from unconsolidated affiliates included in cash flows from investing activities 13 39 Severance, merger and integration payments 80 96 Tax payments on adjustments (16 ) (19 ) Other (31 ) — Free cash flow $ 1,545 $ 1,479 Total Amortization 1 Three Months EndedJune 30, Six Months EndedJune 30, 2025 2024 2025 2024 Acquisition-related intangible assets $ 342 $ 371 $ 673 $ 744 Capitalized software and other intangibles 188 156 364 300 Purchased software 51 59 103 118 Financing costs and debt discounts 11 11 22 22 Sales commissions 30 27 58 55 Deferred conversion costs 29 25 56 49 Total amortization $ 651 $ 649 $ 1,276 $ 1,288 See pages 3-4 for disclosures related to the use of non-GAAP financial measures. 1 The company adjusts its non-GAAP results to exclude amortization of acquisition-related intangible assets as such amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size of acquisitions. Management believes that the adjustment of acquisition-related intangible asset amortization supplements the GAAP information with a measure that can be used to assess the comparability of operating performance. Although the company excludes amortization from acquisition-related intangible assets from its non-GAAP expenses, management believes that it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation. Amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Any future acquisitions may result in the amortization of additional intangible assets. Fiserv, Inc. Full Year Forward-Looking Non-GAAP Financial Measures Reconciliations of unaudited non-GAAP financial measures to the most comparable GAAP measures are included in this news release, except for forward-looking measures where a reconciliation to the corresponding GAAP measures is not available due to the variability, complexity and limited visibility of these items that are excluded from the non-GAAP outlook measures. The company's forward-looking non-GAAP financial measures for 2025, including organic revenue growth, adjusted earnings per share and adjusted earnings per share growth, are designed to enhance shareholders' ability to evaluate the company's performance by excluding certain items to focus on factors and trends affecting its business. Organic Revenue Growth - The company's organic revenue growth outlook for 2025 excludes the impact of foreign currency fluctuations, acquisitions, dispositions and the impact of the company's postage reimbursements. The currency impact is measured as the increase or decrease in the expected adjusted revenue for the period by applying prior period foreign currency exchange rates to present a constant currency comparison to prior periods. Growth 2025 Revenue 10.0% Postage reimbursements —% 2025 Adjusted revenue 10.0% Currency impact 1.0% Acquisition adjustments (1.0)% Divestiture adjustments —% 2025 Organic revenue ~ 10% Adjusted Earnings Per Share - The company's adjusted earnings per share outlook for 2025 excludes certain non-cash or other items such as non-cash intangible asset amortization expense associated with acquisitions; non-cash impairment charges; merger and integration costs; severance costs; gains or losses from the sale of businesses, certain assets and investments; and certain discrete tax benefits and expenses. The company estimates that amortization expense in 2025 with respect to acquired intangible assets will decrease approximately 5% compared to the amount incurred in 2024. Other adjustments to the company's financial measures that were incurred in 2024 and for the three and six months ended June 30, 2025 are presented in this news release; however, they are not necessarily indicative of adjustments that may be incurred throughout the remainder of 2025 or beyond. Estimates of these impacts and adjustments on a forward-looking basis are not available due to the variability, complexity and limited visibility of these items. Fiserv, Inc. Full Year Forward-Looking Non-GAAP Financial Measures (cont.) The company's adjusted earnings per share growth outlook for 2025 is based on 2024 adjusted earnings per share performance. 2024 GAAP net income attributable to Fiserv $ 3,131 Adjustments: Merger and integration costs 1 81 Severance costs 157 Amortization of acquisition-related intangible assets 2 1,420 Non wholly-owned entity activities 3 100 Impairment of equity method investments 4 635 Non-cash settlement charge for terminated pension plans 5 147 Tax impact of adjustments 6 (548 ) 2024 adjusted net income $ 5,123 Weighted average common shares outstanding - diluted 582.1 2024 GAAP earnings per share attributable to Fiserv - diluted $ 5.38 Adjustments - net of income taxes: Merger and integration costs 1 0.11 Severance costs 0.22 Amortization of acquisition-related intangible assets 2 1.95 Non wholly-owned entity activities 3 0.14 Impairment of equity method investments 4 0.85 Non-cash settlement charge for terminated pension plans 5 0.16 2024 adjusted earnings per share $ 8.80 2025 adjusted earnings per share outlook $10.15 - $10.30 2025 adjusted earnings per share growth outlook 15% - 17% In millions, except per share amounts, unaudited. Earnings per share is calculated using actual, unrounded amounts. See pages 3-4 for disclosures related to the use of non-GAAP financial measures. Fiserv, Inc. Full Year Forward-Looking Non-GAAP Financial Measures (cont.) 1 Represents acquisition and related integration costs incurred in connection with acquisitions. Merger and integration costs associated with integration activities primarily include $23 million of third-party professional service fees, $22 million of share-based compensation, and $14 million related to a legal settlement. 2 Represents amortization of intangible assets acquired through acquisition, including customer relationships, software/technology and trade names. This adjustment does not exclude the amortization of other intangible assets such as contract costs (sales commissions and deferred conversion costs), capitalized and purchased software, financing costs and debt discounts. 3 Represents the company's share of amortization of acquisition-related intangible assets at its unconsolidated affiliates, as well as the minority interest share of amortization of acquisition-related intangible assets at its subsidiaries in which the company holds a controlling financial interest. 4 Represents a non-cash impairment of certain equity method investments, primarily related to the company's Wells Fargo Merchant Services joint venture, recorded within loss from investments in unconsolidated affiliates in the consolidated statement of income. 5 Represents a non-cash settlement charge associated with the terminations of the company's defined benefit pension plans in the United Kingdom and United States. Settlements of the terminated plans were completed in the fourth quarter of 2024. 6 The tax impact of adjustments is calculated using a tax rate of 20%, which approximates the company's annual effective tax rate, exclusive of actual tax impacts of an aggregate $196 million benefit associated with the impairment of certain equity method investments and the settlement charge for terminated pension plans. FI-G View source version on Contacts For more information contact: Media Relations: Sophia MarshallSenior Vice President, CommunicationsFiserv, Investor Relations: Julie ChariellSenior Vice President, Investor RelationsFiserv, Sign in to access your portfolio
Zawya
12-06-2025
- Business
- Zawya
NBO Muzn Islamic Banking expands presence with new branch in Al Musannah
Muscat – As part of our ongoing efforts to enhance accessibility and bring Islamic banking services closer to customers, NBO Muzn Islamic Banking has opened a new branch in Al Musannah. This latest expansion reflects Muzn's commitment to offering Shari'a-compliant financial solutions while reinforcing its presence across the Sultanate. Salima Al Marzooqi, Chief Islamic Banking Officer at NBO, commented, 'Opening Islamic banking branch in Al Musannah marks another milestone in our journey to make Islamic banking accessible across the sultanate of Oman. Al Musannah branch provides an outstanding Islamic banking services to the customers by offering tailored financial solutions that align with their values while ensuring convenience and high service standards.' Designed to cater to the diverse financial needs of individuals and businesses, the Al Musannah branch provides a full suite of Islamic banking products and services. From everyday banking solutions to specialised financing and investment opportunities, the branch is equipped to support customers with modern and efficient services in the welcoming environment. As part of its customer-first approach, Muzn is committed to combining physical branch accessibility with seamless digital solutions. The bank continues to enhance its online and mobile banking capabilities, ensuring customers have secure and convenient access to their financial needs, whether in-branch or on-the-go. For more information about Muzn's branches, products, and services, visit or contact the Muzn Call Centre at 24770001.
