Fidelity National's 4Q Revenue Rises, Lifted by Capital-Markets Unit

By Will Feuer

Fidelity National Information Services Inc. posted higher revenue in the fourth quarter as its capital-markets and banking segments lifted results.

The company posted a loss of $17.37 billion, or $29.28 a share, compared with earnings of $291 million, or 47 cents a share, in the same period a year earlier. In the recent quarter, the company booked a non-cash impairment charge tied to the planned spinoff of its merchant-solutions business.

Stripping out one-time items, including the impairment charge, adjusted earnings came to $1.71 a share, topping analysts' estimates by a penny, according to FactSet.

Revenue rose 1% to $3.71 billion. Analysts surveyed by FactSet were expecting revenue of $3.69 billion.

In the capital-markets solutions business, revenue rose 8% while revenue climbed 3% in the banking-solutions business. In merchant solutions, revenue slipped 1%.

Chief Executive Stephanie Ferris said the company's merchants business was hit by growing recessionary impacts in the U.K. and a shift of consumer spending from goods to services in the U.S.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

February 13, 2023 07:43 ET (12:43 GMT)

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