Fidelity National Information Services (FIS), a global leader in financial technology, has reported strong first-quarter results for 2024, showcasing a positive start to the year. The company’s CEO and President, Stephanie Ferris, expressed satisfaction with the performance, highlighting the fifth consecutive quarter of surpassing financial expectations and the ongoing momentum in new sales across the business.

FIS’ Future Forward strategy, implemented last year, has been instrumental in driving improved operational and financial outcomes. The company is optimistic about meeting its full-year outlook and plans to provide insights into its corporate strategy and medium-term financial goals at the upcoming Investor Day.

In a significant move, FIS completed the sale of a 55% stake in its Worldpay Merchant Solutions business to private equity funds managed by GTCR, as part of its strategic separation plan to enhance strategic flexibility. Following the Worldpay Sale, FIS retains a 45% ownership interest in the new standalone joint venture, Worldpay Holdco, LLC. The company will account for its share of Worldpay’s earnings in the income statement under the ‘Equity method investment earnings (loss), net of tax’.

Regarding capital allocation, FIS remains dedicated to delivering value to its shareholders, emphasizing a commitment to shareholder return. The company’s focus on financial performance and strategic initiatives underscores its position as a key player in the financial technology sector.