Operating income falls 40% to $1.0B as One Fiserv transformation costs $329M

Filed August 7, 2026 · Period ending June 30, 2026 · Compared to 10-Q Jul 24, 2025 · ~2 min read

Key Changes

• high

  Operating income fell 40% YoY to $1.0B in Q2 2026, reversing prior year's 19% growth. Operating margin compressed 1,150 basis points to 19.2% (from 30.7%), driven by lower high-margin license and data/analytics revenue, higher personnel costs, One Fiserv transformation expenses ($329M in first six months), and increased technology infrastructure spending.

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

  Financial segment operating margin fell 1,000 basis points YoY to 38.7% (from 48.7%), the segment's largest compression in disclosed periods. Merchant segment margin fell 460 basis points to 30.0% (from 34.6%). Both declines driven by lower high-margin license and data/analytics sales plus higher personnel costs.

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

  SEC Enforcement Division and U.S. Attorney's Office for Southern District of New York investigating the company's 2025 earnings guidance. Securities class action filed alleging false/misleading statements about Clover growth and Argentina business impact. Multiple derivative suits filed alleging breach of fiduciary duty.

  Notes: Legal Proceedings verify on EDGAR →