FIS Q2: Earnings Beat, Transformation Program Success, Solid Outlook & More
Portfolio Pulse from Nabaparna Bhattacharya
Fidelity National Information Services, Inc. (FIS) reported Q2 revenue of $3.746 billion, beating the analyst consensus of $3.700 billion. The company also exceeded the street view of Q2 EPS at $1.55. FIS recorded a non-cash goodwill impairment charge of $6.8 billion related to the Merchant Solutions reporting unit. The company expects Q3 revenues in the range of $3.640 billion-$3.690 billion, versus the consensus of $3.58 billion. FIS shares are trading lower by 1.36% to $60.24.
August 04, 2023 | 11:46 am
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NEGATIVE IMPACT
FIS beat Q2 revenue and EPS estimates and provided a higher Q3 revenue guidance. However, the company recorded a significant non-cash goodwill impairment charge and its shares are trading lower.
Despite beating Q2 estimates and providing a higher Q3 guidance, FIS recorded a significant non-cash goodwill impairment charge which could have contributed to the decline in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100