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Fidelity National Information Services Stock Slumps on Disappointing Outlook
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Key Points
- Fidelity National Information Services’ shares fell on Tuesday after the company’s Outlook missed estimates.
- The fintech company reported fourth-quarter sales below estimates, while adjusted earnings were slightly higher than expected.
- Even with Tuesday’s losses, the stock has increased by more than 10% over the past 12 months.
Fidelity National Information Services (FIS) Stocks fell Tuesday as the company’s outlook was unestimated by S&P 500 sellers.
FIS said it expects first-quarter revenue to be between $2.485 billion and $2.51 billion, with adjusted earnings per share of $1.17 to $1.22, which is lower than analysts’ estimates, which can be seen as alpha. Its full-year forecast of $104.35 billion to $104.95 billion also lost expectations.
The company reported fourth-quarter revenue of $2.6 billion, just below the fourth-quarter revenue that analysts looked for. Adjusted EPS was $1.40, up 49% year-on-year, surpassing the forecast.
FIS shares fell nearly 16% in Tuesday’s date trading, although the stock has increased by more than 10% in the past 12 months even with Tuesday’s losses.
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