Aug 20 (Reuters) - Jack Henry forecast fiscal
2025 profit above Wall Street estimates on Tuesday, on resilient
demand for the financial technology company's products and
services.
Robust demand despite an uncertain economic backdrop has
powered growth for financial technology and payments companies
in areas such as lending, consulting, payments, and digital
banking.
"We produced record revenue and operating income in fiscal
year 2024 along with our highest-ever sales bookings in both the
fourth quarter and fiscal year. Technology spending remains
robust with significant demand," said CEO Greg Adelson in a
statement.
Jack Henry sees fiscal 2025 profit per share between $5.78
and $5.87. Analysts on average had expected $5.76 per share,
according to LSEG data.
The Monett, Missouri-based company, which provides software
and services primarily to banks, credit unions, and other
financial institutions, said revenue rose 4.7% to $559.9 million
in the April-to-June period.
Services and support revenue increased 1.5% in the reported
quarter primarily driven by growth in data processing and
hosting revenue, while processing revenue climbed 9.2%.
The company reported net income of $1.38 per share in the
quarter ended June 30, compared with $1.34 per share a year
earlier.