Fiserv Shares Plunge in Historic Fintech Selloff

The financial technology sector witnessed one of its most severe single-day declines as payment processing giant Fiserv saw its stock value collapse by 44% following disastrous quarterly earnings. Market experts described the selloff as unprecedented in recent fintech history, triggered by results that dramatically missed expectations across all key metrics.

Fiserv reported adjusted earnings per share of $2.04, falling a staggering 22.7% below analyst projections. Revenue performance proved equally disappointing, with the company generating $4.92 billion compared to the anticipated $5.69 billion. The magnitude of the shortfall prompted immediate executive changes, including the appointment of Paul Todd as chief financial officer and the departure of Robert Hau. CEO Mike Lyons also named two co-presidents: current COO Read more...