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Fiserv 1Q Profit Plunges 69 Percent On Charges

Stock quotes in this article: FISV  

BROOKFIELD, Wis. (AP) — Fiserv Inc. said Thursday its first-quarter earnings plunged 69 percent from a year ago, when the financial technology company reported gains from the spinoff of its insurance technology business.

Quarterly earnings dropped to $103 million, or 66 cents per share, from $329 million, or $1.99 per share in the same period last year.

Last year, earnings were boosted $1.39 per share by after-tax gains on the sale of 51 percent of its stake in Fiserv Insurance Solutions, now known as Stone River, to a private equity fund. ...

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