Stock Track | Fidelity National Information Services (FIS) Plunges 5.56% in Pre-market on Q2 Revenue and Net Income Misses

Stock Track
08/04

Shares of Fidelity National Information Services (FIS) tumbled 5.56% in pre-market trading on Tuesday as the company's second-quarter earnings report revealed revenue and adjusted net income that fell short of analyst expectations.

The company reported Q2 revenue of $3,377 million, missing the IBES estimate of $3,384 million. Adjusted net income came in at $763 million, slightly below the forecast of $766.1 million. While adjusted EPS of $1.48 beat the consensus estimate of $1.47, and adjusted EBITDA of $1,409 million surpassed the expected $1,406 million, the top-line miss and net income shortfall weighed on investor sentiment. The adjusted EBITDA margin stood at 41.7%.

The mixed results, with revenue and net income missing expectations, prompted a sharp negative reaction in the pre-market session, overshadowing the modest beats on EPS and EBITDA.

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