Fiserv Stock Plunges After Forecast Slash and Leadership Overhaul

On Wednesday, October 29, Fiserv Inc. shares experienced a significant decline, falling nearly 42% after the company revised its full-year earnings forecast downward. Reuters estimated that the fintech firm's stock collapse could erase approximately $29 billion from its market capitalization. The substantial sell-off followed disappointing third-quarter results and a major restructuring of its senior leadership. CEO Mike Lyons, appointed in February, stated that a recent business review revealed the company's inability to meet previous projections, necessitating a revised forecasting approach. Analysts have expressed strong criticism of Fiserv's performance, citing increased competitive pressures and a softening in consumer spending as contributing factors.