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Fidelity National Information Services sees higher adjusted profit in Q2

Fidelity National Information Services Inc. reported second-quarter adjusted net earnings of $582 million, or $1.78 per share, an increase from $544 million, or $1.63 per share, in the year-ago period.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was $1.78.

On a GAAP basis, the company reported net earnings attributable to common shareholders of $154 million in the second quarter, or 47 cents per share, down 27% from $212 million, or 64 cents per share, in the second quarter of 2018.

FIS, which recently completed its acquisition of $35.36 billion acquisition of Worldpay Inc., recorded total revenues to $2.11 billion, which is relatively flat from the year-ago period. Integrated financial solutions revenues increased 5% year over year to $1.18 billion, while global financial solutions, and corporate and other revenues decreased 4% and 18%, respectively, compared to the year-ago quarter.

The company issued its guidance for the third and fourth quarters, taking into account its acquisition of Worldpay. On a GAAP basis, the company expects third-quarter revenues of $2.78 billion to $2.80 billion, net earnings of $75 million to $300 million and EPS of 14 cents to 57 cents. For the fourth quarter, it expects revenues of $3.29 billion to $3.33 billion, net earnings of $300 million to $510 million and EPS of 48 cents to 82 cents.

On a non-GAAP basis, FIS expects third-quarter revenues of $2.78 billion to $2.80 billion and fourth-quarter revenues of $3.29 billion to $3.33 billion. It expects adjusted EPS, under its new method which includes all depreciation and amortization, of $1.69 to $1.72 for the third quarter and $1.80 to $1.84 for the fourth quarter.

The S&P Global Market Intelligence consensus normalized EPS estimate for the third quarter is $1.91, while the estimate for the fourth quarter is $2.10.