Fidelity National Q2 Earnings Surge, Results Beat Estimates; Confirms FY Outlook

(RTTNews) - IT services provider Fidelity National Information Services (FIS) Tuesday reported a rise in net earnings as well as revenues for the second quarter. Both earnings and revenues topped analysts' estimates.

Fidelity National, whose services focus mainly on banking and payment solutions, also confirmed its full-year outlook.

For the three months to June, net earnings totaled $178.8 million or $0.62 per share, up from $104.8 million or $0.36 per share a year earlier.

Excluding acquisition-related purchase amortization, earnings per share totaled $0.75. On average, sixteen analysts polled by Thomson-Reuters estimated the company's earnings to be $0.74 for the quarter. Analysts' estimates typically exclude one-time items.

Adjusted EBITDA stood at $466 million, compared with $451 million in the same period last year.

Quarterly revenues grew by 6 percent to $1.599 billion, from $1.51 billion last year, above the $1.58 billion Wall Street expected.

For the full year, the company confirmed its outlook for adjusted EBITDA as well as organic revenue growth to grow by 4.5 to 6.5 percent