Published on 26 Feb 2024 on Zacks via Yahoo Finance
Fidelity National (FIS) Q4 Earnings Miss on High Interest Costs
Fidelity National Information Services, Inc. FIS reported fourth-quarter 2023 adjusted earnings per share (EPS) of 94 cents, which missed the Zacks Consensus Estimate by 1.1%. The bottom line declined 4% year over year.
Revenues dipped 1% year over year to $2.51 billion. The top line fell short of the consensus mark of $2.52 billion.
The quarterly results were hit by softer revenue contribution from the Banking Solutions segment and a significant rise in interest expenses. Its shares declined 2% in the pre-market trading session due to the weak quarterly results. Nevertheless, higher recurring revenues aided the performance of the Capital Market Solutions business.