Fiserv

Fiserv Q3 2026: Revenue trough confirmed past, Project Elevate doubled to $1B savings target, share buybacks resume as execution accelerates

Fiserv's Q3 2026 results confirm the Q2 revenue trough is behind the company, with organic revenue flat year-over-year and both segments guided to return to medium-term growth targets in Q4. The most consequential development is the doubling of Project Elevate savings targets to $1 billion — driven by AI deployment results and portfolio rationalization — providing a credible path toward 37% adjusted operating margins over the long term. Management's decision to resume $500 million in share buybacks signals internal confidence in the trajectory, while the portfolio divestiture process for noncore assets introduces potential balance sheet upside that remains unquantified.

Fiserv is a global payments and financial technology company providing merchant acquiring, core banking, digital payments, card issuing, and network processing solutions to financial institutions, small businesses, and enterprise clients.

Primary products

• Clover
• Commerce Hub
• Finxact
• agentOS
• CashFlow Central
• StoneCastle