Fiserv raised its Project Elevate savings target to $1 billion from $500 million when it reported third-quarter 2026 results on November 3, as GAAP revenue fell 1% to $5.20 billion and a $6.45 billion non-cash goodwill impairment produced a GAAP loss of $11.17 per share. The company also plans to repurchase $500 million of its shares in the fourth quarter.
Why it matters: CEO Takis Georgakopoulos said on the earnings call that Fiserv is in talks with multiple parties, under non-disclosure agreements, about new ownership for businesses outside its core strategy, and any after-tax proceeds would go to buybacks and debt reduction. Fiserv also told investors it will exit more than a dozen small products with few clients and help those clients move to other options.
Source: Fiserv earnings release, November 3, 2026; Fiserv Q3 2026 earnings call transcript, The Motley Fool, November 3, 2026; Payments Dive, November 3, 2026
Related: CD&R and GTCR explore a buyout of Global Payments, Reuters and FT report · TWTWIP week ending November 1, 2026
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