Fidelity National Information Services Inc. (FIS) saw its shares plummet 5.81% at the market open on Friday.

The financial technology provider reported first-quarter results that exceeded analyst expectations. The company posted Q1 adjusted earnings per share of $1.36, beating the IBES estimate of $1.29. Revenue for the quarter came in at $3,295 million, above the estimated $3,277 million. Adjusted net income was $705 million versus an estimate of $665.9 million, and adjusted EBITDA reached $1,304 million compared to an estimate of $1,284 million.

However, the stock's sharp decline appears to be driven by investor disappointment with the company's reiterated full-year 2026 outlook, which remained in line with prior market expectations rather than showing an upward revision. FIS expects full-year adjusted EPS in the range of $6.22 to $6.32, compared to the FactSet estimate of $6.27. The company also provided Q2 guidance for adjusted EPS of $1.45 to $1.49 and revenue of $3,375 million to $3,395 million.