Fiserv (NASDAQ:FISV) delivered a mixed fourth-quarter and full-year 2025 report on Tuesday, February 10, 2026, as the company enters a high-stakes transition year under its "One Fiserv" action plan.
The Milwaukee-based payments leader reported adjusted earnings of $1.99 per share for the quarter, surpassing the $1.92 analyst consensus.
However, quarterly adjusted revenue remained flat at $4.90 billion, narrowly missing the $4.91 billion Wall Street expected.
The 2025 fiscal year was a period of heavy lifting for the company.
While GAAP revenue rose 4% to $21.19 billion, adjusted operating margins compressed significantly in the fourth quarter, dropping to 34.9% from 42.9% in the prior year.
This margin pressure reflects the costs of reallocating resources toward operational improvements and the unwinding of certain price increases in the Clover segment.
Despite these headwinds, Fiserv remained aggressive in its capital return strategy, repurchasing 32.2 million shares for $5.6 billion over the course of the year.
The "Merchant Solutions" segment, home to the Clover platform, remains the company’s primary engine, posting 5% growth for the full year.
Conversely, "Financial Solutions" continued to struggle, with quarterly revenue dipping 2%.
To bolster its banking network, Fiserv completed the acquisition of StoneCastle Cash Management in December 2025, a move intended to provide its partner financial institutions with more stable and cost-efficient deposit funding.