FIS, second-quarter profit fell nearly 18 percent on lower revenue, but the provider of processing services for financial institutions raised its full-year profit forecast.
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For the three months ended June 30, Fidelity National reported net earnings of $59.2 million, or 31 cents per share attributable to common stockholders, down from $71.9 million, or 37 cents per share, in the year-ago quarter.
Year-to-year comparisons were clouded because the year-ago quarter's result included 30 cents per share of profit from a discontinued operation.
Excluding one-time items, Fidelity National reported adjusted net earnings of $79.7 million, or 42 cents per share, in the latest quarter. That beat the consensus estimate of analysts surveyed by Thomson Reuters, who expected an adjusted profit of 36 cents per share, on average.
Revenue fell 4 percent to $834.8 million from $869.7 million, beating analysts' estimate of $832.4 million for the latest period
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