Fiserv reported a 17% rise in first quarter earnings Thursday, even as revenues slid by about 1%.

Fiserv posted a first-quarter profit of $121 million, due to lower operating expenses and fewer charges.

Total revenues in the first quarter of 2010 were $1.01 billion, compared with $1.02 billion in the first quarter of 2009.

First quarter highlights included a deal with Coastal FCU for Fiserv’s CheckFree RXP online bill payment and presentment solution. The $2 billion credit union, which already utilizes account processing and online banking solutions from Fiserv, also plans to implement the financial overview experience which the company said combines online banking and bill payment functionality into a single, integrated user portal.

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