S&P 500 (NYSE:SPY) component Fidelity National Information Services, Inc. (NYSE:FIS) reported its results for the second quarter. Fidelity National Information Services offers technology solutions, processing services to the financial services industry.
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Fidelity National Information Services, Inc. Earnings Cheat Sheet
Results: Net income for Fidelity National Information Services, Inc. rose to $150.6 million (50 cents per share) vs. $123.5 million (40 cents per share) in the same quarter a year earlier. This marks a rise of 21.9% from the year-earlier quarter.
Revenue: Rose 1.3% to $1.46 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Fidelity National Information Services, Inc. fell short of the mean analyst estimate of 57 cents per share. It fell exactly in line with the average revenue estimate of $1.46 billion.
Quoting Management: “We are very pleased with the continued organic growth, margin expansion and double-digit increase in earnings per share,” stated Frank Martire, chairman and chief executive officer of FIS. As always, we are focused on serving our clients, executing our business strategy and increasing value to our shareholders.”
Revenue has risen for the last four quarters. Revenue increased 4.6% to $1.45 billion in the first quarter. The figure rose 7% in the fourth quarter of the last fiscal year from the year earlier and climbed 4.3% in the third quarter of the last fiscal year from the year-ago quarter.
The company fell short of estimates last quarter after being in line with expectations the quarter before with net income of 51 cents.
The increase in profit last quarter comes after net income fell in the previous quarter. In the first quarter, net income declined 6.1% to $87.1 million.
Looking Forward: Over the past ninety days, the average estimate for the third quarter has fallen from 66 cents per share to 62 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. For the fiscal year, the average estimate has moved down from $2.53 a share to $2.40 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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