Nov 5 (Reuters) - Banking and payments processing firm
Fidelity National Information Services ( FIS ) beat Wall Street
estimates for third-quarter profit on Wednesday, helped by
strong demand in its banking solutions unit.
U.S. consumer spending remains resilient, even as worries
grow over the Trump administration's trade policies, signs of
labor market strain and persistent inflation.
The stronger spending volumes have benefited payments tech
providers that charge merchants and banks a fee for processing
transactions.
The Jacksonville, Florida-based company reported a 6% rise
in revenue from its banking solutions unit to $1.89 billion in
the reported quarter, while revenue in its capital markets
segment grew 7% to $783 million.
On an adjusted basis, FIS posted net income of $789 million,
or $1.51 per share, for the three months ended September 30, up
from $765 million, or $1.40 per share, a year ago.
Analysts had expected a profit of $1.49 per share, according
to data compiled by LSEG.
Its revenue rose 5.7% to $2.72 billion.
The company expects 2025 adjusted earnings per share in
the range of $5.74 to $5.78, compared with analysts' estimates
of $5.75, according to data compiled by LSEG.
Shares of the company rose about 0.6% in premarket trading.