Fidelity National Information Services, Inc. (FIS), a provider of banking and payments technology, Tuesday posted a higher profit for the first quarter, beating analysts' expectations by a penny, and reiterated its outlook for 2013.
For the three-month period, the firm recorded net income of $144.1 million or $0.49 per share, compared with $87.1 million or $0.29 per share during the same period prior year.
On an adjusted basis, the company reported earnings of $0.62 per share for the quarter. On average, eighteen analysts polled by Thomson Reuters expected earnings per share of $0.61 for the quarter. Analysts' estimates typically exclude one-time items.
Revenue increased 4.6 percent to $1.5 billion from $1.4 billion reported during the comparable period last year. First-quarter revenue increased 4.8 percent on an organic basis, excluding the impact of acquisitions and foreign currency. Analyst estimated the company to generate revenues of $1.47 billion for the quarter.
For 2013, the company continues to expect revenue growth of 4 percent to 6 percent, and Organic revenue growth of 3 percent to 5 percent, and adjusted earnings per share from continuing operations of $2.77-$2.87. Analyst estimate the company to report earnings of $2.81 for the year, on revenues of $6.09 billion.
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