Earnings Slip At Fidelity National Information Services
JACKSONVILLE, Fla. – Fidelity National Information Services on Tuesday reported a slight decline in first quarter earnings, to $96.1 million, from $97.1 million for the same period last year.
Revenues rose a strong 12% for the first quarter to $1.38 billion.
“Excellent growth in Financial Solutions and International Solutions drove the strong top-line performance,” said Frank Martire, president of FIS.
Financial Solutions revenue increased 13.6% for the first quarter, while revenues for International Solutions soared by 48% to $268.1 million. Payment Solutions revenues declined by less than 1% to $614.5 million for the quarter.
FIS incurred a loss of about $13 million during the first quarter related to unauthorized activities involving one client and 22 prepaid card accounts on its Sunrise platform. The company has identified that 7,170 prepaid accounts may have been at risk and that three individual cardholders’ non-public information may have been disclosed as a result of the unauthorized activities. FIS said it worked with the impacted clients to take appropriate action, including blocking and reissuing cards for the affected accounts. The company has taken steps to further enhance security and continues to work with federal law enforcement officials on this matter.