Fidelity National Information Services, Inc. Q2 FY2024 results: revenue $2.5 billion, down 33.6% on the year

Fidelity National Information Services, Inc. (FIS) reported revenue of $2.5 billion for Q2 FY2024, the quarter ended 30 June 2024, down 33.6% on the same quarter a year earlier. Net income was $243 million, and diluted earnings per share $0.44. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2024.

Revenue$2.5 billiondown 33.6%

Net income$243 million

Diluted EPS$0.44

QuarterQ2 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Revenue	2,489	2,467	n/a	n/a
Cost of revenue	1,538	1,552	n/a	n/a
Gross profit	951	915	n/a	n/a
Gross margin	38.2%	37.1%	n/a
Selling, general and administrative	609	573	n/a	n/a
Operating income	378	361	n/a	n/a
Operating margin	15.2%	14.6%	n/a
Interest expense	43.0	77.0	n/a	n/a
Pre-tax income	322	130	n/a	n/a
Income tax	89.0	26.0	n/a	n/a
Effective tax rate	27.6%	20.0%	n/a
Net income	243	724	n/a	n/a
Net margin	9.8%	29.3%	n/a
Diluted EPS	$0.44	$1.25	n/a	n/a

$ million except per share. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Capital expenditure	183	27.0	n/a	n/a
Depreciation and amortisation	431	428	n/a	n/a
Share-based compensation	56.0	31.0	n/a	n/a
Buybacks	1,180	1,342	n/a	n/a
Dividends paid	200	209	n/a	n/a
Dividend per share	$0.36	$0.36	n/a	n/a
Diluted shares, weighted	557m	578m	n/a	n/a
Shares outstanding at period end	546m	556m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Total assets	34,598	35,871	n/a	n/a
Cash and equivalents	2,131	3,329	n/a	n/a
Goodwill	16,979	16,974	n/a	n/a
Long-term debt	11,162	11,194	n/a	n/a
Long-term debt including finance leases	10,584	10,607	n/a	n/a
Shareholders' equity	17,037	18,021	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025	Q1 FY2026	Q2 FY2026
Revenue	2,489	2,510	2,467	2,489	2,570	2,599	2,532	2,616	2,717	2,812	3,295	3,377
Cost of revenue	1,523	1,542	1,552	1,538	1,593	1,640	1,653	1,664	1,689	1,735	2,187	2,203
Gross profit	966	975	915	951	977	977	879	952	1,028	1,076	1,108	1,174
Gross margin	39%	39%	37%	38%	38%	38%	35%	36%	38%	38%	34%	35%
SG&A	484	-425	573	609	521	482	558	572	584	549	605	684
Operating income	475	331	361	378	490	494	347	408	457	529	423	507
Operating margin	19%	13%	15%	15%	19%	19%	14%	16%	17%	19%	13%	15%
Interest expense	n/a	n/a	77.0	43.0	64.0	167	80.0	110	90.0	111	197	200
Pre-tax income	335	79.0	130	322	388	457	230	139	375	432	259	295
Tax rate	22%	19%	20%	28%	28%	30%	35%	7%	23%	20%	41%	21%
Net income	-449	251	724	243	224	281	77.0	-470	264	511	2,366	231
Net margin	-18%	10%	29%	10%	9%	11%	3%	-18%	10%	18%	72%	7%
Diluted EPS	-$0.76	$0.42	$1.25	$0.44	$0.41	$0.51	$0.15	-$0.90	$0.50	$0.98	$4.58	$0.45
Operating cash flow	1,091	1,525	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Capital expenditure	215	34.0	27.0	183	243	18.0	37.0	39.0	59.0	19.0	50.0	26.0
Free cash flow	876	1,491	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Buybacks	1.0	506	1,342	1,180	510	1,013	537	287	308	293	67.0	52.0
Dividends paid	308	305	209	200	199	192	220	212	208	207	232	228
Shares outstanding	592m	576m	556m	546m	538m	530m	525m	522m	518m	514m	517m	516m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2024, filed 6 August 2024, accession 0001136893-24-000113: the filing on EDGAR. All of Fidelity National Information Services, Inc.'s filings: EDGAR company page.

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