JACKSONVILLE, Fla. – Fidelity National Information Services said its first-quarter profit tumbled 53% as revenue from its processing and services segment declined after last July’s spin-off of its Lender Processing Services unit.
Processing Content
Net income for Fidelity National, which is in the process of acquiring Metavante Technologies, declined to $33 million, from $70.5 million for the first quarter last year.
Revenue fell 4% to $797.8 million for the first quarter.
Fidelity National agreed last month to acquire Metavante for stock valued at $3 billion.
