Fidelity National Information Services, Inc. (FIS)

FIS raises annual profit forecast on strong consumer spending

Banking and payments processing conglomerate Fidelity National Information Services raised its forecast for annual adjusted profit and posted a 49% jump in its first-quarter profit on Monday, helped by resilient consumer spending. Payment processors such as FIS collect transaction fees from financial institutions and businesses that are strongly correlated with consumer spending volume. - FIS now expects annual adjusted profit per share to be between $4.88 and $4.98, higher than its previous forecast of $4.66 to $4.76.