Fiserv ( (FI) ) just unveiled an update.
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Fiserv, Inc. anticipates a non-cash impairment charge of $400 million to $600 million on its 40% stake in Wells Fargo Merchant Services due to the joint venture’s looming expiration in April 2025. Despite this, the company has secured a multiyear service agreement with Wells Fargo and maintains its 2024 adjusted earnings outlook, as the impairment won’t affect cash flow or its 2025-2026 revenue and earnings growth projections. Fiserv continues to focus on non-GAAP financial measures to offer a clearer picture of its operational performance.
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