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Fidelity National (FIS) Beats Q3 Earnings on Lower Expenses
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Have you been eager to see how Fidelity National Information Services, Inc. (FIS - Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this Florida-based financial services technology company’s earnings release this morning:
An Earnings Beat
Fidelity came out with adjusted earnings per share of $1.18, easily beating the Zacks Consensus Estimate of $1.06. Results excluded certain one-time items. Results reflected lower selling, general and administrative expenses, partially offset by decline in revenues.
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 $1.06 over the last seven days.
However, Fidelity has a decent earnings surprise history. Before posting earnings beat in Q3, the company delivered positive surprises in three of the trailing four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 3% in the trailing four quarters.
Fidelity National Information Services, Inc. Price and EPS Surprise
Fidelity posted revenues of $2.20 billion, which lagged the Zacks Consensus Estimate of $2.23 billion. Also, revenues decreased 4.8% year over year.
Key Takeaways:
Total assets came in at $24.3 billion, down from $26 billion as of Dec 31, 2017.
Selling, general and administrative expenses declined 14.8% year-over-year to $327 million.
Management expects consolidated organic revenue growth of 2-3% 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.
Check back later for our full write up on this Fidelity earnings report!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Image: Bigstock
Fidelity National (FIS) Beats Q3 Earnings on Lower Expenses
Have you been eager to see how Fidelity National Information Services, Inc. (FIS - Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this Florida-based financial services technology company’s earnings release this morning:
An Earnings Beat
Fidelity came out with adjusted earnings per share of $1.18, easily beating the Zacks Consensus Estimate of $1.06. Results excluded certain one-time items. Results reflected lower selling, general and administrative expenses, partially offset by decline in revenues.
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 $1.06 over the last seven days.
However, Fidelity has a decent earnings surprise history. Before posting earnings beat in Q3, the company delivered positive surprises in three of the trailing four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 3% 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 Lower Than Expected
Fidelity posted revenues of $2.20 billion, which lagged the Zacks Consensus Estimate of $2.23 billion. Also, revenues decreased 4.8% 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.)
Check back later for our full write up on this Fidelity earnings report!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>