JKHY - Why Jack Henry Stock Was Down Today
2023-08-16 12:24:16 ET
Shares of Jack Henry & Associates (NASDAQ: JKHY) were down 8% as of 10:59 a.m. ET on Wednesday following earnings results for the fiscal fourth quarter of 2023 (which ended in June).
The financial technology company delivered a solid fiscal fourth-quarter earnings report for 2023, with revenue and profits growing consistent with historical trends. But the company offered lower-than-expected earnings guidance for fiscal 2024.
Jack Henry finished fiscal 2023 on a high note. Revenue grew 7% for the full year, while fourth-quarter revenue was up 11% year over year. Growth was driven by solid revenue increases in services and support, in addition to higher revenue from payment processing.
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Why Jack Henry Stock Was Down Today