Fidelity National Information Services (FIS) reported first-quarter profit of $95.8 million, down less than 1% from a year earlier, as corporate expenses climbed.
The Jacksonville, Fla., company said Thursday that corporate expenses totaled $103.7 million, up 9% from a year earlier. Net interest expense, excluding refinancing costs, fell more than 12%, to $59.4 million, because of lower borrowing costs and a reduction in total debt outstanding.
FIS’ revenue from continuing operations increased more than 4%, to $1.45 billion, year over year as it saw improvements in its financial solutions, electronic transactions and international solutions businesses. Financial solutions revenue increased 7%, to $538.9 million, because of growth in business from processing, professional services and global commercial services.
Increases in electronic transactions led to revenue for payment solutions rising more than 2%, to $630.6 million, year over year. International solutions revenue totaled $276.8 million, up roughly 3% from a year earlier.