Fidelity National Information Services, Inc (FIS Quick QuoteFIS - Free Report) is a leading provider of banking and payments technology solutions, processing services and information-based services to the financial services industry. The company came into existence following the merger with Certegy Inc., a provider of credit card, debit card, other transaction processing and check risk management services to financial institutions in 2006.

Fidelity boasts a strong global presence, offering more than 300 solutions to 20,000 financial institutions in over 130 countries.

However, increasing consolidation in the banking sector, a challenging environment for the Payments Solutions business, stiff competition and an uncertain regulatory environment are the headwinds.

Zacks Rank: Currently, Fidelity National has a Zacks Rank#4 (Sell) but that could change following its second quarter 2016 earnings report which has just released.

We have highlighted some of the key details from the just-released announcement below:

Earnings: Adjusted earnings per share from continuing operations came in at 90 cents, beating the Zacks Consensus Estimate of 86 cents and increasing 21.6% from the year ago quarter. The company raised 2016 adjusted earnings per share guidance range to $3.75-$3.85 as against $3.70-$3.80 projected earlier

Revenue: Processing and services revenues of $2.305 billion surged 45.3% year over year but widely missed the Zacks Consensus Estimate of $2.321 billion.

Key Stats: Organic revenue growth was up 5.4% in the quarter.

Check back later for our full write up on this FIS earnings report later!

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