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 third quarter 2015 earnings report which has just released.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Non-GAAP adjusted earnings per share from continuing operations came in at 90 cents, falling a penny short of the Zacks Consensus Estimate but increasing 12.5% from 80 cents reported in the year ago quarter.
Revenue: Revenues of $1578.8 million also came below the Zacks Consensus Estimate of $1638.8 million and declined 1.7% year over year.
Key Stats: Non GAAP operating income of the company increased 10.3% to 424.6 million.
Check back later for our full write up on this FIS earnings report later!
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