May 7 (Reuters) - Fintech firm Jack Henry & Associates ( JKHY )
on Tuesday raised its full-year profit forecast and
reported a near 7% rise in third-quarter profit, helped by a
strong performance in its processing as well as services and
support segments.
Financial technology and payments companies' products, which
include lending, consulting, payments and digital banking, have
seen resilient demand against an uncertain economic backdrop.
The company now expects 2024 earnings per share to be
between $5.15 and $5.19, up from its prior forecast of $5.09 to
$5.13.
Monett, Missouri-based Jack Henry provides technology
solutions and payment processing services primarily to community
and regional financial institutions.
"Our sales teams produced a record third quarter for sales
bookings, and our sales pipeline remains near its all-time
high," CEO David Foss said in a statement.
Jack Henry's services and support revenue rose 4.5% to about
$305 million from a year earlier, while processing revenue
jumped 7.8% to $233.5 million.
The company's net income rose to $87.1 million, or $1.19 per
share, in the three months ended March 31, from $81.5 million,
or $1.12 per share, a year earlier.