FIS reports a 3% Q4 adjusted profit drop due to weaker consumer spending and high interest rates.

FIS reports a 3% drop in its Q4 adjusted profit, impacted by weaker consumer spending volumes. High interest rates have led to reduced discretionary spending, affecting payment processors like FIS. Its adjusted net income from continuing operations fell 5% to $558 million for Q4. FIS completed the sale of a 55% stake in its merchant service business, Worldpay, to private equity firm GTCR last month.

February 26, 2024
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