Payments firm FIS shares slide after outlook cut

Payments firm FIS shares slide after outlook cut Aug 4 : Banking and payments processing firm Fidelity National Information Services cut its annual revenue and profit forecasts on Tuesday, amid economic uncertainty, sending its shares down more than 10 per cent in premarket trading. Here are some details: • Economic uncertainty linked to the Iran war and U.S. trade policy have prompted some institutions and retailers to remain cautious on technology spending, weighing on demand for certain banking and capital-markets products. • The Jacksonville, Florida-based company lowered its 2026 adjusted earnings forecast to $6.15-$6.24 per share from $6.22-$6.32 previously. • Its revenue forecast stood at $13.63 billion to $13.70 billion, compared with the prior forecast of $13.77 billion to $13.85 billion. • On an adjusted basis, FIS posted net income of $763 million, or $1.48 per share for the quarter, up from $716 million, or $1.36 per share, a year earlier. • Chief Executive Stephanie Ferris said banks continued to invest in technology modernization and artificial intelligence, helping support demand for the company's products and services.