Fidelity National Information Services, Inc. Earnings: Increase in Profit Year Over Year
S&P 500 (NYSE:SPY) component Fidelity National Information Services, Inc. (NYSE:FIS) reported its results for the second 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 Second Quarter
Results: Net income for the business services company rose to $123.5 million (40 cents per share) vs. $89.9 million (23 cents per share) in the same quarter a year earlier. This marks a rise of 37.4% from the year earlier quarter.
Revenue: Rose 12.1% to $1.44 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: FIS reported adjusted net income of 55 cents per share. By that measure, the company beat the mean estimate of 54 cents per share. Analysts were expecting revenue of $1.42 billion.
Quoting Management: “We are pleased with the continued revenue momentum and the strong growth in earnings per share,” commented Frank Martire, president and chief executive officer of FIS. “These results reflect our ongoing focus on expanding client relationships, driving operational excellence and further extending our market leadership position.”
Revenue has risen the past four quarters. Revenue increased 10.7% to $1.38 billion in the first quarter. The figure rose 8.6% in the fourth quarter of the last fiscal year from the year earlier and climbed 60.7% in the third quarter of the last fiscal year from the year-ago quarter.
The company beat estimates last quarter after being in line with expectations in the first quarter with net income of 45 cents per share.
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).
(Source: Xignite Financials)