Fiserv plunges after FY forecast downgrade

Shares of payments firm Fiserv FI.N slide 37.4% to $79 in premarket trading

Co lowers FY revenue forecast; expects organic revenue growth of 3.5% to 4%, compared with its prior forecast of 10%

Expects adj. EPS between $8.50 and $8.60 for 2025, down from its earlier forecast of $10.15 to $10.30

FI posts Q3 revenue of $4.92 bln, below analyst expectations of $5.36 bln

Reports adj. EPS of $2.04, below analyst estimates of $2.64

Separately, co appointed Paul Todd as CFO, effective October 31, and announced a transfer of its listing to Nasdaq

29 of 36 brokerages rate the stock "buy" or higher, six "hold" and one "sell"; their median PT is $170 - data compiled by LSEG

FI was down 38.58% YTD, as of last close