Fidelity National Q3 Earnings Beat Estimates, Ignites $500M Buyback Countdown For Q4
Portfolio Pulse from Nabaparna Bhattacharya
Fidelity National Information Services (FIS) reported Q3 revenue of $2.489 billion, a 3% increase on a GAAP basis and 4% on an organic basis. The company's Q3 adjusted EPS of $1.65 beat the street view of $1.58. FIS also announced plans to repurchase approximately $500 million of shares in Q4 as part of a broader goal to repurchase at least $3.5 billion of shares by year-end 2024. Despite the positive earnings report, FIS shares are trading lower by 2.26% to $50.56.
November 07, 2023 | 4:23 pm
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Fidelity National Information Services reported better than expected Q3 earnings and announced a $500M share buyback plan. Despite this, the stock price is down 2.26%.
Despite beating Q3 earnings estimates and announcing a significant share buyback plan, FIS's stock price is down. This could be due to market factors outside the company's control or investor sentiment not aligning with the company's performance.
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