Fidelity National Information Services’ Shares Down 24% Since Q3 Miss Announcement
<p><a href='https://financialmodelingprep.com/financial-summary/FIS'>Fidelity National Information Services, Inc. (NYSE:FIS)</a> shares are down around 24% since the company’s reported Q3 results on Thursday. Q3 EPS came in at $1.74, worse than the Street estimate of $1.76. Revenue was $3.6 billion, compared to the Street estimate of $3.61 billion. </p>
<p>The company is going through a transition that takes time. It is a structurally slower growing, lower profitability business vs. peers with more international exposure and thus hurt more by FX and inflation costs, making margin more vulnerable. According to the analyst at Oppenheimer, cost cuts are a temporary fix, and slower than market peer growth likely reignites market share loss conversations and investment needs, while banking growth slows.</p>
<p>For Q4/22, the company expects EPS to be in the range of $1.66-$1.72, compared to the Street estimate of $2.07, and revenue in the range of $3.656-3.706 billion, compared to the Street estimate of $3.81 billion.</p>

NYSE:FIS