Fidelity National Information Services, Inc. Q2 2026 Earnings Recap

Shares declined 4.3% as investors were disappointed by cautious outlook commentary and continued softness in Capital Markets, which grew at the low end of expectations despite strength in Banking.

Key Takeaways

• Revenue of $3.4 billion grew 5.3% on a pro forma basis, driven by a 6.1% increase in Banking and Payments at the high end of guidance.
• Capital Markets segment grew 3.2%, coming in at the low end of the company’s outlook and prompting management’s acknowledgment of ongoing underperformance.
• Adjusted EBITDA margins expanded by 113 basis points with 7.4% EBITDA growth, though margin improvement was overshadowed by segment disparities.
• Free cash flow more than tripled year-over-year, leading to a $100 million increase in the full-year free cash flow outlook.
• The Total Issuing Solutions acquisition is delivering on client wins and revenue growth, with 72% of that portfolio now contracted through 2029 and joint enterprise ACV growing 35% year-over-year.