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First Data and Fiserv each reported a strong Q1 ahead of their merger

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Fiserv and First Data's Q1 2019 earnings provided key performance insights ahead of their upcoming merger:

. In its earnings release, Fiserv president and CEO Jeffrey Yabuki — who will reside as CEO over the joint company — said the results were"ahead of initial expectations." Further, the firm enthusiastically highlighted the upcoming acquisition as a bright growth point. Yabuki said Fiserv is"well into integration planning and looking forward to completing the First Data acquisition in the second half of the year.

Further, Fiserv can open up significant channels for Clover, First Data's point-of-sale system, which processed approximately $70 billion in annualized volume globally during Q3 2018 and shipped itsMeanwhile, First Data could allow Fiserv to mitigate ongoing threats from fintechs. First Data is one of the largest US acquirers and has an extensive global network: It operates in over 100 countries across 6 million businesses and 3,700 financial institutions, and the major processor sees $2.

 

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