Fiserv Posts $5.94 Billion Loss, Raises Savings Target

Fiserv reported a $5.94 billion third-quarter net loss after recording a $6.45 billion noncash goodwill impairment, while revenue slipped and the company reaffirmed its 2026 outlook. It also doubled its projected savings target for Project Elevate and said it plans a $500 million share repurchase in the fourth quarter of 2026. Revenue for the quarter ended September 30 was $5.20 billion, down 1% from a year earlier. Organic revenue was flat. The goodwill charge, which Fiserv linked to a trigger event associated with sustained declines in its share price and market capitalization, contributed to a GAAP loss of $11.17 per share. Adjusted earnings per share fell to $1.75 from $2.04 a year earlier. Fiserv raised Project Elevate’s projected savings to $1 billion from $500 million after identifying additional operational efficiencies in a review of its business. The company described the initiative as part of its effort to reduce costs and improve operations. The higher target is prospective; the company has not reported that the full amount has been realized. The company maintained its 2026 forecast for organic revenue, ranging from a 1% decline to no change, and adjusted earnings...