Fidelity National Reports HigherEarnings
JACKSONVILLE, Fla. - (10/27/05) -- Financial services conglomerateFidelity National Financial Inc., announced Wednesday that thirdquarter earnings rose 11% to $214.4 million, or $1.21 a share,compared to the same quarter last year. The company, which is inthe process of separating its core title insurance business fromits credit union and bank outsourcing operations, said revenuesclimbed by 17% during the third quarter to $2.5 billion. As aresult, revenues for the first three quarters rose 17% to $7.2billion, while net income for period surged by 50% to $848.9million, or $4.79 a share, compared to the first nine months lastyear. Fidelity National is in the process of spinning off itsoutsourcing operations into a free-standing company to be calledFidelity Information Services, and merging the operations withcards processor Certegy Inc.