Why Fidelity National Information Services (FIS) Shares Are Trading Lower Today - Fidelity National Info (NYSE:FIS)

Fidelity National Information Services, Inc FIS reported second-quarter FY22 revenue growth of 7% year-on-year to $3.72 billion, beating the consensus of $3.67 billion. On an organic basis, revenue grew 8%.
Merchant Solutions revenue grew 11% Y/Y to $1.3 billion. Revenue from Banking Solutions rose 5% Y/Y to $1.66 billion, and Capital Market Solutions increased 5% to $663 million.
Margin: Adjusted EBITDA margin contracted 70 bps 43%.
Adjusted EPS of $1.73 beat the consensus of $1.71.
FIS held $1.69 billion in cash and equivalents and generated $1.02 billion in operating cash flow.
CFO Transition: Deputy CFO Erik Hoag will succeed James "Woody" Woodall as CFO on November 4.
Outlook: FIS sees Q3 revenue of $3.580 billion - $3.635 billion, below the consensus of $3.74 billion. It sees an adjusted EPS of $1.74 - $1.78, below the consensus of $1.91.
FIS cut the FY22 revenue outlook to $14.615 billion - $14.700 billion from $14.78 billion - $14.925 billion below the consensus of $14.84 billion. The company cut adjusted EPS to $7.00 - $7.10 from $7.25 - $7.37, below the consensus of $7.26.
Price Action: FIS shares traded lower by 7.33% at $96.51 on the last check Thursday.

Fidelity National Information Services Beats Q2 Earnings; Cuts FY23 Outlook