Fidelity National: Growth And Debt Fears Outweigh In-Line Q2
Summary
Fidelity National Information Services, Inc.'s Q2 results were solid but uninspiring, with modest growth and recurring r...
Fidelity National Information Services, Inc.'s Q2 results were solid but uninspiring, with modest growth and recurring revenue stability, yet shares dropped sharply on sector fears. Portfolio simplification continues with the Worldpay exit and Issuer Solutions acquisition, but management's M&A credibility remains questionable and leverage will rise. Guidance was only modestly raised due to FX benefits, not core business improvement, and back-half weighted growth targets add caution.