Buoyed by higher revenue from processing and services, Fiserv Inc. on Feb. 2 reported fourth-quarter net income of $143 million, up 23% from a year earlier.
The Brookfield, Wis.-based company also said for 2011 its income declined 5% to $472 million.
The company’s fourth-quarter revenue totaled $1.2 billion, up more than 7% from a year earlier. Its 2011 revenue rose 5%, to $4.3 billion.
Fourth-quarter revenue from processing and services totaled $915 million, a 5% increase year over year, while revenue from products climbed 18%, to $246 million. The company’s expenses in the quarter grew 8.5%, to $880 million, from a year earlier.
Fiserv said that it signed 219 person-to-person payments clients, 114 electronic-bill payment clients and 54 debit clients in the quarter.