Milwaukee-based fintech company Fiserv on Thursday reported a 4% year-over-year decline in second quarter revenue to $5.3 billion and a 39% decline in net income to $630 million.

For the first half of the year, the company’s revenue is down 3% to $10.3 billion and its net income is down 36% to $1.2 billion, compared to the first half of 2025.

This was the company’s first earnings report since it named a new CEO in June and its president stepped down in July.

“Our business continues to be supported by volume growth and strong positions in attractive markets,” said Takis Georgakopoulos, the company’s new chief executive officer. “Our recurring revenue base is durable, client demand for our strategic platforms remains strong, and we are improving execution, enhancing our technology and are committed to long-term shareholder value.”

The company lowered its projected results for the year, saying it now expects organic revenue this year to be between a 1% decline and flat, compared to last year. Previously the company had forecasted organic revenue growth of 1% to 3% this year.

“Growth in overall volumes, transactions and accounts, coupled with recurring revenue growth, highlight the underlying performance of our business in the second quarter,” said Paul Todd, chief financial officer of Fiserv. “While we are adjusting our 2026 outlook, we are reiterating our expected medium-term growth rates.”