Jim Cramer Discusses Fiserv (FI)'s Merchant Solutions Business

We recently published Jim Cramer Talked About These 14 Stocks & Discussed AI And Layoffs. Fiserv, Inc. (NYSE:FI) is one of the stocks Jim Cramer recently discussed.

Fiserv, Inc. (NYSE:FI) is a financial technology company that provides payment, security, debit card processing, and other services to merchants. The firm’s earnings report earlier this week, which saw it post $4.92 billion in revenue and $2.04 adjusted earnings to miss analyst estimates, was devastating as the shares sank by a whopping 44% in the aftermath. Investors were particularly spooked by Fiserv, Inc. (NYSE:FI) reducing its full-year guidance to $8.50 to $8.60 from an earlier $10.15 to $10.30 and slashing revenue growth guidance to 3.5% to 4% from the earlier 10%. Here is what Cramer said about Fiserv, Inc. (NYSE:FI):

“I mean I look at the Fiserv numbers. And I’m thinking, what happened here? And you’ll look this, FI’s down a lot. There’s talk that perhaps one of the subsectors they sell into, which is merchant solutions, missed. Now merchants solutions, we haven’t even talked about how weak retail might be but when you look at that, that’s not a three for two split, David.

“[After Carl commented that the 20 year chart looks a lot different] Yes, and that’s Frank Bisignano who put together a great company with First Data, but holy cow, bingo.”

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.