FIS Confirms Q2 Guidance, Announces Debt Buyback Plan

Fidelity National Information Services

has confirmed its adjusted profit outlook for the second quarter. The company has unveiled its plan to raise new debt via the sale of a $1.2 billion note. The Jacksonville, Florida-based company forecast its adjusted profit outlook for the second quarter within a range of $0.45-$0.47 per share. The projections are in-line with the analyst expectations of $0.46 per share. FIS also forecasts a low-single digit percentage rise on a y/y basis in its June quarter revenue. FIS also announced its plan to buyback about $2.5 billion of its stock by using the proceeds from the sale of $1.2 billion notes. A part of the proceeds will also be used by FIS to pay off its previous debt associated with the acquisition of Metavante Technologies Inc. FIS’ shares gained 4.32% to $27.55 in pre-market trading. Read more

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