Fidelity National Information Services Earnings: Net Income Slips
S&P 500 (NYSE:SPY) component Fidelity National Information Services, Inc. (NYSE:FIS) reported its results for the first quarter. Fidelity National Information Services, Inc. offers technology solutions, processing services to the financial services industry.
Fidelity National Information Services Earnings Cheat Sheet for the First Quarter
Results: Net income for the business services company fell to $92.8 million (31 cents/share) vs. $93.6 million (25 cents/share) a year earlier. A decline of 0.9% from the year earlier quarter.
Revenue: Rose to $1.38 billion YoY.
Actual vs. Wall St. Expectations: FIS reported adjusted net income of of 45 cents/share. By that measure, the company fell in line with the mean estimate of 45 cents/share. Estimates ranged from 44 cents per share to 46 cents per share.
Quoting Management: “Excellent growth in Financial Solutions and International Solutions drove the strong top-line performance,” stated Frank Martire, president and chief executive officer of FIS. “We are very pleased with the progress we are making in driving higher organic revenue growth, which we believe will drive sustainable earnings growth and value for our shareholders.”
Competitors to Watch: Visa Inc. (NYSE:V), Alliance Data Systems Corp. (NYSE:ADS), MasterCard Incorporated (NYSE:MA), American Express Company (NYSE:AXP), NetSpend Holdings Inc (NASDAQ:NTSP), Green Dot Corporation (NYSE:GDOT), Global Payments Inc. (NYSE:GPN), Intl. Business Machines Corp. (NYSE:IBM), M & F Worldwide Corp. (NYSE:MFW), and Total System Services, Inc. (NYSE:TSS)
Stock Performance: Shares of FIS are up 0.3% from a previous close of $32.94.