Fiserv Reports Second Quarter 2020 Results
Summary
GAAP earnings per share in the second quarter and the first six months of 2020 included integration costs and acquired intangible asset amortization from the application of purchase accounting associated with the First Data acquisition. Our results also included excellent sales performance which provides strong market momentum entering the second half of the year," said Frank Bisignano, President and Chief Executive Officer of Fiserv. "Most important, we are incredibly proud of our people who have displayed unwavering stamina, commitment and courage as we navigate the uncharted waters of a rapidly changing world. "Given the strength of the results to date and improving performance trends around the world, we expect to deliver our 35th consecutive year of double digit adjusted earnings per share growth and are well-positioned for 2021," said Bisignano. 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.
