Fiserv Books $6.45 Billion Goodwill Impairment

The Tip Desk · November 3, 2026 · 3 min read

Organic revenue was flat in the third quarter after a 5% organic decline in the second quarter, and the company raised Project Elevate savings to $1 billion.

Fiserv, Inc. (FISV), a global provider of payments and financial services technology, recorded a $6.45 billion non-cash goodwill impairment in the third quarter of 2026, producing a GAAP loss of $11.17 a share.

The charge, booked in Corporate and Other, was tied to a triggering event associated with sustained decreases in the company’s share price and market capitalization. GAAP operating margin was (105.7)%, compared with 27.3% a year earlier.

Organic revenue was flat in the quarter, reversing a 5% organic decline in the second quarter. GAAP revenue was $5.20 billion, down 1% from the year-ago quarter after a 4% year-over-year decline in the second quarter. Adjusted revenue was $4.85 billion. Adjusted earnings were $1.75 a share.

Chief Executive Officer Takis Georgakopoulos said net attrition in banking was down more than 25 percent year to date, that major client wins were ramping, that Clover continued to produce consistent underlying growth and that the modern merchant platform was gaining momentum. Chief Financial Officer Paul Todd said third-quarter performance was in line with expectations, including a return to organic revenue growth in Financial Solutions, and that second-half initiatives were on track to support the revenue acceleration the company expects in the fourth quarter.

Merchant Solutions GAAP revenue was $2.52 billion, down 3% from a year earlier. Organic revenue in the segment declined 2%. Financial Solutions GAAP revenue was $2.33 billion, essentially unchanged from the year-ago quarter. Organic revenue in Financial Solutions grew 2%. Merchant Solutions GAAP operating margin was 28.7%, versus 37.2% a year earlier. Financial Solutions GAAP operating margin was 38.1%, versus 42.5% a year earlier. Company adjusted operating margin was 31.2%, versus 37.0% a year earlier.

In the third quarter the company completed the previously announced sale of its student loan servicing business and formed the MoneyPass Group joint venture, encompassing the MoneyPass Network, ATM Managed Services and Cash Intelligence businesses, in which it maintains a minority ownership interest. Those sales produced an aggregate net gain of $100 million. The quarter also included an $85 million impairment and other charge on certain leased facilities, recorded in selling, general and administrative expenses.

Fiserv raised its projected savings under Project Elevate to $1 billion, up from a prior $500 million estimate, following a comprehensive portfolio review and identification of additional operational efficiencies. The company said it expects to repurchase $500 million of common stock in the fourth quarter of 2026 under its existing authorization, resuming buybacks earlier than anticipated.

The company continues to expect 2026 organic revenue of (1%) to 0% and adjusted earnings of $7.20 to $7.40 a share, outlooks it had updated in the second-quarter release.

For the first nine months of 2026, GAAP revenue was $15.52 billion, down 2% from the year-earlier period. GAAP loss per share was $8.90. Adjusted revenue was $14.49 billion. Adjusted earnings were $5.38 a share. Organic revenue decreased 3% in the nine months, with a 2% decline in Merchant Solutions and a 4% decline in Financial Solutions. Net cash provided by operating activities was $3.09 billion. Free cash flow was $2.04 billion.