Why Shares of Fiserv Fell a Stunning 48% This Week

Since the close of trading last week, shares of the core processing and payments company Fiserv (NYSE: FIS) had fallen an unimaginable 48% at the close of trading on Thursday. The company significantly missed Wall Street estimates for the third quarter of the year, lowered guidance, and essentially announced a strategic reset.Fiserv reported adjusted earnings per share of $2.04, missing estimates by over $0.60. Revenue of $4.92 billion also missed by $430 million. Even worse, management lowered its full-year adjusted earnings guidance by 16.4%, attributing the shocking results to soft revenues from the company's business in Argentina, which is experiencing a financial crisis, among other issues. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool