By Denny Jacob


Fiserv Inc. shares were up 4.6% at $102.53 after the company posted that its net income in the second quarter more than doubled from a year earlier and raised its outlook for 2022.

The financial services technology provider's net income in the quarter ended June 30 more than doubled to $598 million, or 92 cents a share, compared with $269 million, or 40 cents a share, a year earlier. Adjusted earnings were $1.56 a share, slightly above analysts' expectations of $1.54.

Revenue rose to $4.45 billion from $4.05 billion.

The company also raised its full-year 2022 outlook. Fiserv guided for organic revenue growth of 9% to 11%, and adjusted earnings per share of $6.45 to $6.55, up from its prior forecast of organic revenue growth of 7% to 9%, and adjusted earnings per share of $6.40 to $6.55.

Chief Executive Frank Bisignano said the company's assets and balance sheet should position it to withstand potential challenges impacting the global economy.


Write to Denny Jacob at denny.jacob@wsj.com


(END) Dow Jones Newswires

07-26-22 1418ET