FIS Reports Second Quarter 2020 Results
Summary
On an organic basis, revenue decreased 7% compared to the prior year period, primarily due to reduced consumer spending trends caused by shelter-in-place, lockdown orders and other impacts associated with the ongoing COVID-19 pandemic. Adjusted EBITDA margin expanded by 150 basis points (bps) over the prior year period to 39.1%, primarily driven by disciplined expense management as well as the acquisition of Worldpay and achievement of associated synergies. Adjusted net earnings excludes the impact of certain costs and other transactions which management deems non-operational in nature, the removal of which improves comparability of operating results across reporting periods. The risks and uncertainties to which forward-looking statements are subject include the following, without limitation: Other unknown or unpredictable factors also could have a material adverse effect on our business, financial condition, results of operations and prospects. Except as required by applicable law or regulation, we do not undertake (and expressly disclaim) any obligation and do not intend to publicly update or review any of these forward-looking statements, whether as a result of new information, future events or otherwise.