Fidelity National Falls As Quarterly Revenue, Q1 Outlook Below View

(RTTNews) - Shares of Fidelity National Information Services, Inc. (FIS) are falling more than 7% Tuesday morning after the financial services technology company's fourth-quarter revenue came in below analyst's estimates. The company's first-quarter outlook also stands below the Street view.

Revenue for the quarter increased 11% year-over-year to $3.672 billion, however, missed the average estimate of analysts polled by Thomson Reuters of $3.71 billion.

Net earnings were $291 million or $0.47 per share in the fourth quarter compared with $103 million or$0.16 per share in the same quarter a year ago.

Excluding one-time items, earnings were $1.92 per share. The consensus estimate was for $1.9 per share.

Looking forward to the first quarter, the company expects revenue in the range of $3.42 billion-$3.45 billion and adjusted EPS in the range of $1.44-$1.47. Analysts expect earnings of $1.56 per share and revenue of $3.49 billion in the quarter.

For the full-year, revenue is expected between $14.780 billion-$14.925 billion and adjusted EPS between $7.25-$7.37. The consensus estimate for earnings is at $7.29 per share and for revenue is at $14.92 billion.

FIS touched a new low of $100.84 this morning, before edging up to $103.42 currently.