Fidelity National Information Services ( (FIS) ) has released its Q3 earnings. Here is a breakdown of the information Fidelity National Information Services presented to its investors.
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Fidelity National Information Services (FIS) is a financial technology company based in Jacksonville, Florida, providing solutions for financial institutions, businesses, and developers, known for its role in advancing payment, banking, and investment technologies. In its latest earnings report for the third quarter of 2024, FIS announced a strong financial performance, highlighted by an increase in both GAAP and adjusted earnings per share, and a raised full-year outlook. FIS reported a 7% increase in GAAP diluted EPS to $0.45 and a significant 49% rise in adjusted EPS to $1.40, alongside a 3% growth in GAAP revenue totaling $2.6 billion. The company also repurchased $500 million worth of shares in the quarter, reinforcing its commitment to shareholder returns. Revenue from the Banking Solutions segment grew by 3%, while the Capital Market Solutions segment saw an 8% increase, partly driven by cost savings and increased licensing revenues. Despite a 27% decrease in revenue from the Corporate and Other segment, FIS maintained strong overall financial health, with a focus on strategic growth following the Worldpay sale. Looking ahead, FIS has raised the lower end of its revenue and adjusted EBITDA outlook for 2024, indicating confidence in continued growth and strategic execution, as emphasized by CEO Stephanie Ferris.
