By Rob Curran

 

Fiserv Inc. said fourth-quarter earnings and revenue rose and forecast continued growth in adjusted earnings in 2023, shrugging off broad weakness in the digital economy.

The Brookfield, Wis., payment-technology company logged fourth-quarter earnings of $782 million, or $1.23 a share, up from $333 million, or 50 cents a share a year earlier.

On an adjusted basis, Fiserv posted fourth-quarter earnings of $1.91 a share.

Fourth-quarter revenue rose 8.7%, to $4.63 billion.

The company forecast 2023 organic revenue growth, which excludes the effect of foreign exchange, of 7% to 9%. For 2022, Fiserv posted revenue of $17.73 billion.

Fiserv projected 2023 adjusted earnings of $7.25 to $7.40 a share, up from $6.49 a share in 2023.

Digital payments boomed during the pandemic and for much of the last two years. Amazon.com Inc. and other online merchants have indicated a slowdown in business more recently, hurting the fortunes of some financial technology companies.

 

Write to Rob Curran at rob.curran@wsj.com

 

(END) Dow Jones Newswires

February 07, 2023 07:42 ET (12:42 GMT)

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