Key facts
- FIS shares fell over 10% after the company cut its annual revenue and profit forecasts.
- Global Payments also cut its annual forecasts due to economic uncertainty and reduced travel spending.
- FIS lowered its 2026 adjusted earnings forecast to $6.15-$6.24 per share and revenue to $13.63 billion-$13.70 billion.
- FIS reported a year-over-year increase in quarterly net income to $763 million ($1.48 per share).
Payments processing firm FIS saw its shares decline more than 10% in premarket trading after reducing its annual revenue and profit outlook, citing economic uncertainty and cautious technology spending by institutions and retailers. The company lowered its 2026 adjusted earnings forecast to a range of $6.15 to $6.24 per share, down from a previous projection of $6.22 to $6.32. Its revenue forecast was also revised downward to $13.63 billion-$13.70 billion, compared to the prior outlook of $13.77 billion-$13.85 billion.
Separately, payment technology company Global Payments also cut its annual net revenue and profit forecasts, expecting adjusted net revenue growth of about 4% to 5% and adjusted earnings per share between $13.60 and $13.80 for full year 2026. This comes amid economic uncertainty linked to the war in the Middle East, which is disrupting global travel and reducing cross-border transactions.
Despite the revised outlooks, FIS reported an increase in net income for the quarter, reaching $763 million, or $1.48 per share, up from $716 million, or $1.36 per share, in the same period last year. FIS Chief Executive Stephanie Ferris indicated that banks continue to invest in technology modernization and artificial intelligence, which supports demand for FIS's offerings.