02:12 PM EDT, 10/29/2025 (MT Newswires) -- Fiserv's ( FI ) shares sank in Wednesday trading as the financial technology and payments company lowered its full-year guidance following disappointing third-quarter results and announced a new chief financial officer.

For 2025, the company now expects adjusted per-share earnings of $8.50 to $8.60 and organic revenue growth of 3.5% to 4%, down from its prior estimates of $10.15 to $10.30 on sales growth of about 10%. Analysts polled by FactSet expect non-GAAP EPS of $10.09 on sales of $20.67 billion.

For the September quarter, adjusted EPS fell to $2.04 from $2.30 a year earlier, while analysts expected an increase to $2.64. Adjusted revenue rose 1% to $4.92 billion, below the $5.35 billion consensus.

The stock tumbled 42% intraday, taking its year-to-date loss to 64%.

"Fiserv's ( FI ) growth and margin targets need to be reset," Chief Executive Mike Lyons said on a conference call, according to a FactSet transcript. "Over the last few years, decisions to defer certain investments and cut certain costs, improved margins in the short-term, but are now limiting our ability to serve clients in a world-class way, execute product launches to our standards and grow revenue to our full potential."

The company appointed former Global Payments (GPN) CFO Paul Todd as its new finance chief, effective Friday.

The company's results took a hit from "revaluation of certain assets in highly inflationary countries such as Argentina," Todd told analysts. Meanwhile, interest rates in Argentina jumped, resulting in a $0.04 headwind to adjusted EPS, Todd said.

During the quarter, Fiserv ( FI ) completed the mutual termination of a merchant alliance joint venture, which drove a $0.16 tailwind to EPS, Todd said.

"Our (third-quarter) results, updated 2025 guidance and preliminary outlook for 2026 now all reflect current conditions in Argentina, the recalibration of assumptions embedded in our original guidance, all necessary investments and the de-prioritization of short-term initiatives," Lyons said on the call. "We believe we have addressed the most critical issues and have established an appropriate go-forward baseline."

Chief Operating Officer Takis Georgakopoulos will become co-president starting Dec. 1, along with Dhivya Suryadevara, who most recently led Optum Financial Services and Optum Insight at UnitedHealth Group (UNH).

Separately, Fiserv ( FI ) said it will move the listing of its class A common stock to the Nasdaq from the New York Stock Exchange, under the "FISV" ticker symbol. The change is expected to take place on Nov. 11.

Price: 71.54, Change: -54.63, Percent Change: -43.30