Fiserv Stock Down 18% Despite Q1 Revenue And Earnings Growth

(RTTNews) - Fiserv, Inc. (FI) dropped 17.91 percent to $178.22, shedding $38.88 during Thursday's trading, even after reporting first-quarter revenue of $5.13 billion and net income of $848 million, both up from $4.88 billion and $752 million, respectively, a year ago.

Shares opened at $193.04 and have traded between $177.62 and $198.68, sharply lower from the previous close of $217.10 on the New York Stock Exchange. Volume spiked to nearly 12 million shares, well above the average volume of 3.3 million.

Fiserv is trading near the lower end of its 52-week range of $146.25 to $238.59.