Lori Moffett | Bloomberg | Getty Images
Shares National Information Services The company reported quarterly earnings not met its estimates since 2023 and released disappointing forecasts, the biggest trend since 2023.
With afternoon trading, the stock fell 12%, its biggest drop since March 2023.
This is the case with the consensus estimates of LSEG analysts.
- Earnings per share: Adjusted $1.40 Estimated $1.36
- income: $2.6 billion vs. $2.63 billion
FIS is in statement Tuesday. Net income jumped nearly five times to $304 million, or 56 cents per share, from $62 million a year ago or 10 cents a share.
FIS said revenue for the quarter will be between $2.49 billion and $2.51 billion, and sales for the full year will be $10.44 billion to $10.5 billion. Analysts expect revenue in the first quarter to be $2.56 billion, and a year to be $10.6 billion.
CEO Stephanie Ferris said on a revenue call that the company missed its estimate of its growth in 2024, “due to certain disposable items.” She said “new sales growth” and A strong relationship with customers “gives us confidence in the further acceleration in 2025”.
FIS said new sales of digital solutions grew 70% year-on-year in 2024.
FIS stock falls on revenue mistakes
The company raised its share buyback target from $800 million to $1.2 billion, part of its commitment to return excess cash to shareholders.
Separately TuesdayFIS announces new partnership with online lenders confirmprovide debit services to its bank customers. By arrangement, any bank that works with FIS will be able to provide its own version of the confirmation card without requiring customers to adopt new plastic.
watch: Confirm stock Spike
