Earnings Surge At FIS On mFoundry Deal

Published May 02, 2013, 8:13 p.m. EDT

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Updated August 26, 2020, 10:20 p.m. EDT

1 Min Read

JACKSONVILLE, Fla. FIS, formerly known as Fidelity National Information Services, reported its first quarter earnings soared 31% to $144.1 million, partly due to its acquisition of mobile banking developer mFoundry.

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First quarter results include after-tax, acquisition-related amortization of $41 million and a gain of $6 million resulting from the purchase of the remaining interest in shares of mFoundry. The gain represents the difference between the fair value and the carrying value of the previously held minority interest investment in mFoundry, FIS said.

FIS reported a 5% increase in first quarter revenue to $1.5 billion.

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