The report showed lower sales of hardware and data reduced Clover revenue for the quarter by about 9% while lower revenue from Argentina cut it by about 2%. “We are experiencing incremental headwinds in our hardware revenue in merchant,” Fiserv Chief Financial Officer Paul Todd told analysts on the webcast. “This is partly due to the market impacts of a higher level of hardware sales over the last two years.” Clover revenue grew just 2% for the quarter, though Todd tried to soften that outcome by noting that it would have grown more if not for “higher non-recurring revenue” in the year-ago period. As a result of the challenges in the sale of Clover hardware and services to restaurant, retail and other merchant customers, the company expects Clover revenue growth will slip to the mid-single digits this year.