Fidelity National Information Services (FIS) announced its first-quarter 2021 report, displaying an improvement in profitability across all segments. Fidelity achieved revenue growth of 5% last quarter, reaching $ 3.22 billion. As a result, the EBITDA margin increased to 40.6 %, and adjusted earnings rose 2% to $814 million, or $1.3 a share.
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A 3 % increase in sales was recorded in retail solutions, primarily due to North American demand. Capital management solutions saw a 7 % increase in sales, and banking solutions saw a 5 % rise. It generated a free cash flow of $556 million. Fidelity paid a quarterly dividend of $244 million and $ 400 million in stock at an average price of $ 143 per share.
As part of the acquisition of Worldpay, Fidelity National Information Services (FIS) completed a $300 million synergy. And it is expected that it will reach $600 million by the end of this year, $700 million by 2022. According to Fidelity, it expects to generate over $13.7 billion in 2021 and earnings of $1.6 per diluted share.
Mobile banking and digital platforms help increase Fidelity’s relevance in the financial industry, undergoing a digital transformation. Several nonprofits, government agencies, and businesses rely on Fidelity’s outsourcing services. Leading the market and maintaining a positive outlook, the company remains one of the leading players.
Fidelity National Information Services Inc. (FIS) is up 0.11% in aftermarket trading, trading at $151.75 at the last check. A share of Fidelity National Information Services Inc. lost -0.14% on Friday to close at $151.59. A volume of approximately 3.1 million shares was traded compared to an average of 3.38 million shares over the last three months. Stocks traded between $149.78 and $153.40 during the trading session. Earnings per share were -0.37. Past five sessions, FIS shares lost -0.86% of their value, and over the past month, the share price has increased 1.82%. The stock has increased by 7.16% year-to-date. The stock’s 50-day moving average is $146.90, exceeding the 200-day moving average of $142.79. An RSI of 54.21 is currently displayed on the stock.
