Fiserv’s ‘Impossible to Sugarcoat’ Outlook Stuns Analysts (1)

Fiserv Inc.’s massive earnings shortfall baffled analysts even as it dealt a crushing blow to the company’s shares.

The financial technology giant’s stock plunged a record 47% after the company slashed its outlook for full-year earnings and unveiled third-quarter results that fell short of Wall Street’s mostly rosy expectations. Shares of other payments-related companies also tumbled.

Read: Fiserv Stock Tumbles Record 47% as Results Confound Wall Street

The results are “impossible to sugarcoat,” said William Blair’s Andrew Jeffrey, who downgraded the stock to market-perform, saying they can no longer recommend the company.

Fiserv’s fall from grace is ...