FIS - Why Fidelity National Information Services Stock Dropped 15% Today
Shares of Fidelity National Information Services (NYSE: FIS) are plummeting today, down 14.6% as 11:55 a.m. ET, despite the payment processing company beating on both sales and earnings estimates this morning.
Heading into its fourth-quarter report, analysts had forecast Fidelity National Information would earn $1.70 per share on sales of just under $3.7 billion. As it turned out, the company earned $1.71 per share (adjusted for one-time items) and generated sales just over $3.7 billion.
So a win on both counts. But if that's the case, why is Fidelity National stock down so much today?
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Why Fidelity National Information Services Stock Dropped 15% Today