* FIS increases fourth quarter and full-year 2019 guidance, primarily driven by outperformance in the third quarter, strong business trends and ongoing synergy achievement •
* FIS increases full-year 2020 expense synergy target by $50 million to over $350 million
JACKSONVILLE Fla., November 5, 2019 –
FIS\u2122 (NYSE:FIS), a global leader in financial services technology, today reported its third quarter 2019 results.
“FIS’ results this quarter exceeded our expectations; demonstrating strong growth across the entire enterprise,” said Gary Norcross, FIS chairman, president and chief executive officer. “We are pleased by the robust demand for our new merchant offerings and are making early progress against our synergy targets and overall integration of Worldpay. These successes combined with the fundamental strength of our business model and ongoing sales success gives us confidence that we are well positioned to drive further value for our clients and shareholders.”
On a GAAP basis, revenue increased 35 percent to $2,822 million from $2,084 million in the prior year period, primarily driven by the July 31, 2019 acquisition of Worldpay. Net earnings attributable to common stockholders was $154 million for the quarter or $0.29 per diluted share.
On an adjusted basis, organic revenue increased 5 percent over the prior year period. Adjusted EBITDA margin expanded 350 basis points over the prior year period to 42.2 percent. Adjusted net earnings was $751 million or $1.43 per diluted share.
details => https://www.investor.fisglobal.com/static-files/c02c8f0b-430…
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