FIS wins praise for ‘transparency’ even as merchant business comes up a bit short

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Shares of Fidelity National Information Services Inc. are gaining some ground Thursday after the company’s heightened disclosures about its merchant business helped ease concerns about competitive pressures and outweighed a slight miss on that revenue item, in the view of analysts.

The stock
FIS,
+0.97%

is up 1.1% in midday trading Thursday. It fell as much as 3.1% early in the session but had gained as much as 7.9% later in the morning.

The company generated third-quarter net income of $158 million, or 26 cents a share, up from $20 million, or 3 cents a share, in the year-earlier quarter. On an adjusted basis, FIS earned $1.73 a share, up from $1.42 a share a year prior and above the FactSet consensus, which called for $1.68 a share.

Revenue increased to $3.51 billion from $3.20 billion, while analysts had been looking for $3.52 billion.

The company posted $1.16 billion in…

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