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Fidelity National (FIS) Tops Q1 Earnings, Revenues Up Y/Y

Fidelity National Information Services, Inc FIS is a leading provider of banking and payments technology solutions, processing services and information-based services to the financial services industry. The company came into existence following the merger with Certegy Inc., a provider of credit card, debit card, other transaction processing and check risk management services to financial institutions in 2006.

Fidelity boasts a strong global presence, offering more than 300 solutions to 14,000 financial institutions in over 110 countries.

However, increasing consolidation in the banking sector, a challenging environment for the Payments Solutions business, stiff competition and an uncertain regulatory environment are the headwinds.

Zacks Rank:Currently, Fidelity National has a Zacks Rank#3 (Hold) but that could change following its first quarter 2016 earnings report which has just released.

We have highlighted some of the key details from the just-released announcement below:

Earnings:Adjusted earnings per share from continuing operations came in at 79 cents, beating the Zacks Consensus Estimate of 74 cents and increasing 22% from the year ago quarter.

Revenue:Processing and services revenues of $2,181 million surged 40.3% year over year.

Key Stats:Organic revenue growth was 4.2% in the quarter.

Check back later for our full write up on this FIS earnings report later!

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FIDELITY NAT IN (FIS): Free Stock Analysis Report
 
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