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Fiserv, Inc. has reported its fourth-quarter 2025 results, with revenue of US$5,284 million versus US$5,251 million a year earlier, and net income of US$811 million compared with US$938 million, while full-year 2025 revenue reached US$21.19 billion and net income US$3.48 billion.
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The quarter capped a turbulent year in which new leadership rolled out the “One Fiserv” turnaround plan, using expense discipline and technology partnerships to beat earnings expectations even as certain banking and financial solutions revenues weakened.
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Next, we’ll examine how Fiserv’s better-than-expected Q4 earnings and cautious 2026 guidance influence its execution-focused investment narrative reset.
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To own Fiserv, you need to believe the “One Fiserv” reset can turn modest reported revenue growth into steadily rising earnings, despite pressure in banking and financial solutions. Q4 2025 results and 2026 guidance reinforce that the near term is about execution discipline, not breakneck expansion, with the key catalyst being proof that the turnaround can stabilize growth. The biggest risk is continued operational missteps or product delays that keep organic growth and margins stuck near the low end of guidance.
Against that backdrop, the expanded partnership with ServiceNow around AI-enabled operations and IT service management looks especially relevant. It fits squarely with Fiserv’s execution-focused story, offering a potential lift to efficiency and client experience at a time when management is emphasizing expense control and better forecasting. Whether these kinds of technology tie ups can offset weakness in Financial Solutions and support the One Fiserv plan will be critical to watch.
Yet beneath the improving headline numbers, investors should also be aware of growing legal and regulatory scrutiny around…
Read the full narrative on Fiserv (it’s free!)
Fiserv’s narrative projects $24.7 billion revenue and $5.9 billion earnings by 2028. This requires 5.4% yearly revenue growth and about a $2.5 billion earnings increase from $3.4 billion today.
Uncover how Fiserv’s forecasts yield a $84.75 fair value, a 35% upside to its current price.
Some of the most optimistic analysts were penciling in revenue of about US$25.6 billion and earnings of roughly US$6.7 billion, assuming smoother integration and faster international expansion than the latest Q4 and 2026 guidance suggest. If you are weighing those upbeat expectations against the current execution and competition risks, this is exactly where reasonable investors can disagree and why it is worth exploring several different viewpoints before you decide what makes sense for you.