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


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

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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