Core Viewpoint - Fidelity National Information Services (FIS) reported a mixed performance in its Q1 2024 earnings, with adjusted EPS beating estimates but a decline in revenues year over year. The company is focusing on margin expansion and cost efficiencies to drive future growth [2][3][5]. Financial Performance - Q1 2024 adjusted EPS was $1.10, exceeding the Zacks Consensus Estimate by 14.6%, but down 14.7% year over year [2]. - Revenues fell 29.6% year over year to $2.5 billion, although this was above the consensus estimate of $2.4 billion [2]. - Adjusted EBITDA rose 8% year over year to $975 million, surpassing estimates [5]. Segment Performance - Banking Solutions unit revenues increased 2% year over year to $1.68 billion, exceeding estimates [6]. - Capital Market Solutions segment revenues grew 7% year over year to $706 million, beating the consensus estimate [7]. - Corporate and Other segment revenues declined 12% year over year to $77 million, but still surpassed estimates [8]. Cost and Expenses - Cost of revenues was $1.55 billion, down 1.2% year over year [4]. - Selling, general and administrative expenses rose 10.8% year over year to $573 million, exceeding estimates [4]. - Net interest expenses decreased 45.8% year over year to $77 million, lower than estimates [4]. Cash Flow and Equity - Cash and cash equivalents increased to $3.3 billion from $440 million at the end of 2023 [9]. - Total equity dropped to $18 billion from $19.1 billion at the end of 2023 [10]. - Net cash from operations was $206 million, down 29.2% year over year [10]. Shareholder Returns - The company returned $1.6 billion to shareholders through share buybacks and dividends in Q1 2024 [11]. - Management aims to return a minimum of $4 billion to shareholders through share buybacks by the end of 2024 [12]. Future Guidance - For Q2 2024, revenues are projected between $2.465 billion and $2.490 billion, with adjusted EBITDA expected in the range of $980-$995 million [14]. - Full-year 2024 revenues are expected to be between $10.10 billion and $10.15 billion, indicating a 3.1% improvement from 2023 [15]. - Adjusted EPS guidance for 2024 has been revised upward to between $4.88 and $4.98, suggesting a 46.3% increase from 2023 [17]. Industry Context - Fidelity National operates in the Zacks Financial Transaction Services industry, which has seen mixed performance among peers, such as Bread Financial Holdings, which reported a significant revenue decline [22].

Core Viewpoint - Fidelity National Information Services, Inc. (FIS) has launched FIS Digital One Flex Mobile 6.0, an upgraded mobile banking application aimed at meeting the increasing demand for mobile banking services among financial institutions and their customers [1][2]. Group 1: Product Features and Market Demand - The new mobile banking application is designed to provide an intuitive and seamless user experience, particularly targeting Gen Z and Millennial customers, who are leading the shift towards mobile banking [2]. - Digital One Flex Mobile 6.0 includes enhanced features such as biometrics, user ID and password reset, bill payment, Zelle, internal and external transfers, and loan payment capabilities, which improve both usability and security [4]. Group 2: Business Impact and Financial Performance - The introduction of this product is expected to enhance customer retention and attract new clients, leading to increased revenues through licensing agreements, subscription fees, and other service offerings [3]. - FIS shares have appreciated by 38.4% over the past year, outperforming the industry average increase of 19% [5].

Fidelity National — with a market cap of $42.5 billion — provides banking and payments technology solutions, processing services and information-based services to the financial services industry. Courtesy of solid prospects, this stock is worth investing in at the moment. Zacks Rank & Price Performance Fidelity National Information Services, Inc. (FIS) is well-poised to grow on the back of its Future Forward initiative, cross-selling efforts, vertical expansion and margin expansion. Thegrowing global e-comm ...

Shares of fintech firm Fidelity National Information Services Inc (NYSE:FIS) are trading at their highest level since February 2023 following a post-earnings gap higher on the charts. The equity also reclaimed support from its 50-day moving average after earnings, though the $76 level kept a lid on further gains. However, a "buy" signal is flashing that could keep the wind at the stock's back.  Specifically, FIS' Schaeffer's Volatility Index (SVI) of 22% is higher than just 4% of the other readings from the ...

Fidelity National Information Services, Inc. (FIS) shares gained 5.5% since it reported first-quarter 2024 results on May 6, 2024. Upward revision in adjusted earnings per share (EPS) guidance, along with favorable EBITDA margin expansion, might have buoyed investor confidence in the stock. The first-quarter earnings benefited from strong recurring revenue growth in both the segments and strong new sales growth. However, negative professional services revenue growth in both segments and a less favorable rev ...

Fidelity National Information Services (FIS) reported $2.47 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 29.7%. EPS of $1.10 for the same period compares to $1.29 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $2.45 billion, representing a surprise of +0.85%. The company delivered an EPS surprise of +14.58%, with the consensus EPS estimate being $0.96.While investors closely watch year-over-year changes in headline numbers -- reve ...

Financial Performance - Total revenue for 2023 was $9.5 billion, with a 4% year-over-year growth[36] - The company reported a revenue of $14,680 million for FY 2023, exceeding the original outlook of $14,200 - $14,450 million[192] - Adjusted EBITDA for FY 2023 was $6,154 million, surpassing the forecast of $5,900 - $6,100 million[192] - The adjusted EBITDA margin for 2023 is reported at 43.5%, indicating a strong operational performance[110] - FY 2024 revenue is projected to be between $10,100 million and $10,140 million, with adjusted revenue growth of 4.0% to 4.5%[199] Revenue Composition - Recurring revenue accounted for 80% of total revenue, indicating a strong base of stable income[36] - The company achieved a recurring revenue rate of approximately 68% in FY 2023, with a target of ~72% for FY 2024[149] - The issuer processing volume for credit and debit transactions grew by over 5% from 2021 to 2023, reflecting a robust payments business[120] - Approximately 30% of clients utilize multiple solutions from the company, contributing to a 6% growth in revenue per client from 2017 to 2023[145] Growth Strategies - The company is focusing on higher-growth, higher-margin opportunities, which is expected to drive future profitability[18] - A disciplined capital allocation strategy is in place, targeting long-term value creation through organic investments and tuck-in acquisitions[52] - The company is focusing on tuck-in M&A strategies in digital and payments sectors to enhance growth opportunities[126] - The company is focusing on tuck-in M&A and active portfolio management to enhance growth in adjacent verticals[187] - The company aims for a predictable and sustainable revenue growth target of 5% by 2025/2026[125] Operational Efficiency - The adjusted EPS outlook for 2024 has been increased, reflecting improved operational efficiency and cost management[23] - The company is targeting $790 million in operational expense savings through 2026, demonstrating a commitment to cost discipline[23] - The company aims to achieve margin expansion primarily through operational expense savings[197] Market Position and Client Base - The company serves over 6,000 clients across approximately 150 countries, highlighting its extensive global reach[133] - The U.S. Total Addressable Market (TAM) for the company's services is projected to be $74 billion, with a growth rate of 3% from 2024 to 2026[110] - The total addressable market (TAM) for Treasury & Payments is projected at $12 billion, with a revenue CAGR of 14% from 2020 to 2023[146] Technology and Innovation - The company is investing in next-generation technology and platforms to enhance its service offerings and maintain competitive advantage[62] - 90%+ of workloads have been migrated to the cloud, with a clear pathway to 100% adoption by 2024[72] - The cloud infrastructure supports over 200PB of data stored and analyzed, enhancing operational efficiency[66] - The technology platform enables seamless integration with third-party products, enhancing user experience and operational agility[97] - Innovative solution suites are being developed to enhance market competitiveness[200] Client Satisfaction and Performance Metrics - Client satisfaction scores have improved by 15% from 2022 to 2023, reflecting better delivery and service quality[95] - The average time to remediate vulnerabilities has improved significantly, with over 20 billion malicious requests blocked in 2023[70] - The company has achieved a 34% increase in the share of technology capital allocated to high-growth products from 2022 to 2024[80] - Digital revenue for large banks increased by 19% from 2021 to 2023, showcasing significant growth in this segment[118] Future Outlook - The company aims for a revenue growth rate of 7.5% - 8.5% by 2025/2026, supported by next-gen technologies and modernization efforts[149] - The company is positioned to capitalize on growth opportunities with a broad suite of best-of-breed solutions across the financial lifecycle[102] - Future growth drivers include advancements in Banking and Capital Markets sectors[197] - The company aims to unlock significant value with cloud solutions, targeting new markets and reducing costs to serve[76]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q _______________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-16427 _______________________________________________ Fidelity National Info ...

Fidelity National Information Services (FIS) came out with quarterly earnings of $1.10 per share, beating the Zacks Consensus Estimate of $0.96 per share. This compares to earnings of $1.29 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.58%. A quarter ago, it was expected that this banking and payment technologies company would post earnings of $0.95 per share when it actually produced earnings of $0.94, delivering a surpr ...

Fidelity National Information Services, Inc. (FIS) shares have shown impressive performance compared to its peers this year. With 13% growth year to date, it has surpassed the industry's 4.4% rise and the S&P 500 Index's 7.7% gain. This reflects investor confidence in its growth strategies, operational efficiency and efforts to enhance shareholder value.The divestment of its 55% stake in Worldpay earlier this year underscores management's skill in executing profit-enhancing initiatives and focusing on core ...