Fidelity National's 4Q Revenue Rises, Lifted by Capital-Markets Unit
February 13 2023 - 6:58AM
Dow Jones News
By Will Feuer
Fidelity National Information Services Inc. posted higher
revenue in the fourth quarter as its capital-markets and banking
segments lifted results.
The company posted a loss of $17.37 billion, or $29.28 a share,
compared with earnings of $291 million, or 47 cents a share, in the
same period a year earlier. In the recent quarter, the company
booked a non-cash impairment charge tied to the planned spinoff of
its merchant-solutions business.
Stripping out one-time items, including the impairment charge,
adjusted earnings came to $1.71 a share, topping analysts'
estimates by a penny, according to FactSet.
Revenue rose 1% to $3.71 billion. Analysts surveyed by FactSet
were expecting revenue of $3.69 billion.
In the capital-markets solutions business, revenue rose 8% while
revenue climbed 3% in the banking-solutions business. In merchant
solutions, revenue slipped 1%.
Chief Executive Stephanie Ferris said the company's merchants
business was hit by growing recessionary impacts in the U.K. and a
shift of consumer spending from goods to services in the U.S.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
February 13, 2023 07:43 ET (12:43 GMT)
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