FIS Raises 2016 Guidance; Q2 Organic Revenue Up 5.4% - Quick Facts

(RTTNews) - FIS (FIS), a global leader in financial services technology, announced, for fiscal 2016, the company now expects: Organic revenue growth of 4 to 5 percent, up from prior guidance of 3 to 4 percent; and adjusted EPS of $3.75 to $3.85, up from prior guidance of $3.70 to $3.80. Analysts polled by Thomson Reuters expect the company to report profit per share of $3.80. Analysts' estimates typically exclude special items.

Second-quarter net earnings from continuing operations attributable to stockholders was $120 million, or $0.36 per share, compared to $242 million, or $0.85 per share in the prior year quarter, a decrease of 57.6 percent. The company said decline in net earnings was driven by M&A-related items, including the gain on the sale of gaming contracts in the prior year quarter and charges related to the SunGard acquisition in the current year quarter.

Adjusted net earnings from continuing operations attributable to common stockholders was $295 million for the quarter, or $0.90 per share compared to $0.74 per share in the prior year period, an increase of 21.6 percent. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $0.87 for the quarter.

FIS reported that second-quarter revenue increased 45.3 percent on a reported basis to $2.31 billion from $1.59 billion in the prior year quarter. Organic revenue increased 5.4 percent. Analysts expected revenue of $2.33 billion, for the quarter.