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Fidelity National (FIS) Beats Q2 Earnings on Higher Revenues
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Have you been eager to see how Fidelity National Information Services, Inc. (FIS - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this FL.-based financial services technology company’s earnings release this morning:
An Earnings Beat
Fidelity came out with adjusted earnings per share of $1.02, beating the Zacks Consensus Estimate of 97 cents. Results excluded certain one-time items. Results reflected increase in revenues and lower selling, general and administrative expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for Fidelity depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate has remained unchanged at 97 cents over the last 7 days.
However, Fidelity has a decent earnings surprise history. Before posting earnings beat in Q2, the company delivered positive surprises in three of the trailing four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 2.9% in the trailing four quarters.
Fidelity National Information Services, Inc. Price and EPS Surprise
Fidelity posted revenues of $2.34 billion, which lagged the Zacks Consensus Estimate of $2.35 billion. However, revenues increased 1.5% year over year.
Key Takeaways:
Adjusted net earnings came in at $342 million, up 15.9%.
Selling, general and administrative expenses declined 12.3% year-over-year to $370 million.
Management expects consolidated reported revenue to be remain stable or decline 1% in 2017.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Fidelity. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
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From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
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Fidelity National (FIS) Beats Q2 Earnings on Higher Revenues
Have you been eager to see how Fidelity National Information Services, Inc. (FIS - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this FL.-based financial services technology company’s earnings release this morning:
An Earnings Beat
Fidelity came out with adjusted earnings per share of $1.02, beating the Zacks Consensus Estimate of 97 cents. Results excluded certain one-time items. Results reflected increase in revenues and lower selling, general and administrative expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for Fidelity depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate has remained unchanged at 97 cents over the last 7 days.
However, Fidelity has a decent earnings surprise history. Before posting earnings beat in Q2, the company delivered positive surprises in three of the trailing four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 2.9% in the trailing four quarters.
Fidelity National Information Services, Inc. Price and EPS Surprise
Fidelity National Information Services, Inc. Price and EPS Surprise | Fidelity National Information Services, Inc. Quote
Revenue Came In Lower Than Expected
Fidelity posted revenues of $2.34 billion, which lagged the Zacks Consensus Estimate of $2.35 billion. However, revenues increased 1.5% year over year.
Key Takeaways:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Fidelity. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential.
See these stocks now>>