Fidelity National Information Services Stock Slumps on Disappointing Outlook
Key Takeaways
Fidelity National Information Services (
FIS
) shares tumbled Tuesday, leading S&P 500 decliners as the firm’s outlook fell short of estimates.
FIS said it expects first-quarter revenue of between $2.485 billion and $2.51 billion and adjusted earnings per share of $1.17 to $1.22, below analysts’ estimates compiled by Visible Alpha. Its full-year projection of $10.435 billion to $10.495 billion in revenue also missed expectations.
The softer-than-expected outlook comes after the company reported fourth-quarter revenue of $2.6 billion, slightly below the $2.63 billion analysts were looking for. Adjusted earnings per share came in at $1.40, up 49% year-over-year and just above projections.
FIS shares were down nearly 16% in intraday trading Tuesday, though even with Tuesday’s losses, the stock has added more than 10% over the last 12 months.
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