Fiserv revenue falls 2% as One Fiserv transformation costs drive 890bp margin decline

Filed May 6, 2026 · Period ending March 31, 2026 · Compared to 10-Q Apr 25, 2025 · ~2 min read

Key Changes

• high

  Q1 2026 revenue declined 2% YoY to $5.1B while operating margin compressed 890 basis points to 18.3%, driven by 280bp of One Fiserv transformation costs, 480bp higher personnel costs, and 230bp increased data processing expenses.

  MD&A: Operating Results verify on EDGAR →
• high

  Financial segment revenue fell 5% YoY (vs. +6% prior year) as high-margin data/analytics sales declined across Digital Payments and Issuing; segment operating margin dropped 940bp to 38.1% from 47.5%.

  MD&A: Financial Segment verify on EDGAR →
• high

  Share repurchases plunged 91% to $200M from $2.2B in Q1 2025, suggesting capital reallocation toward transformation investments and debt management over shareholder returns.

  MD&A: Capital Allocation verify on EDGAR →