FIS Stock Plunges 23%: A Guidance Cut Erased the Earnings Beat

Fidelity National Information Services (NYSE: FIS) lost nearly a quarter of its value on Wednesday, November 4, 2026, falling about 23% to around $30 after the banking-technology giant cut its full-year profit forecast — even though its third-quarter earnings technically beat Wall Street estimates. The stock hit a new 52-week low, was the S&P 500's leading loser, and has now fallen more than 50% in 2026.

What happened, in one paragraph

FIS reported third-quarter revenue of $3.454 billion, up 27% from $2.717 billion a year earlier, and adjusted earnings of $1.61 per share, a cent ahead of the $1.60 consensus. Then came the problem: the company cut its full-year adjusted earnings forecast to $5.82 to $5.89 per share, down from $6.15 to $6.24 previously and well below the roughly $6.20 analysts had pencilled in. Investors ignored the penny beat and sold the outlook.

The key facts

Stock move: FIS fell about 22.6% to 23% in Wednesday trading, from a previous close of $38.99 to around $30.10, with an intraday low near $29.85 — a new 52-week low.
Q3 revenue: $3.454 billion, up 27% year over year on a GAAP basis and 29% on an adjusted basis.
Q3 profit: GAAP net earnings of $356 million, or $0.69 per diluted share; adjusted net earnings of $831 million, or $1.61 per share, up 6.6%.
Profitability: Adjusted EBITDA rose about 31% to roughly $1.5 billion, and the adjusted EBITDA margin expanded 111 basis points to 42.9%.
New guidance: Full-year revenue of $13.445 billion to $13.505 billion and adjusted EPS of $5.82 to $5.89 — only 1.2% to 2.4% EPS growth for the year.
Balance sheet: Debt outstanding stood at $20.8 billion at September 30, while the free cash flow target of $2.15 billion to $2.25 billion was maintained.

Why the guidance mattered more than the beat

The headline 27% revenue jump flatters the underlying business. Most of it came from acquiring the Total Issuing Solutions business. Stripping that deal out, pro forma revenue grew just 3.7%, and recurring revenue grew only 2.5%. In other words, the company FIS already owned is expanding slowly — and the new full-year forecast says profit growth will slow to barely 1% to 2%, even with the acquisition included.

That combination is what spooked the market. A one-cent earnings beat says the last quarter was fine. A guidance cut of roughly 35 cents at the midpoint, against a consensus near $6.20, says management sees a weaker finish to the year than investors had priced in. With $20.8 billion of debt to work down after a large acquisition, shareholders were looking for proof the deal would quickly lift earnings per share. Wednesday's outlook pushed that payoff further out, and the share price — already down sharply this year, with a 50-day average near $36.91 and a 200-day average near $43.64 — had no support underneath it.

Not to be confused with Fiserv

The timing added to the confusion in market coverage. FIS and Fiserv (NASDAQ: FISV) are different companies with near-identical names. Fiserv reported a day earlier, doubled its cost-cutting target to $1 billion, and its stock soared. FIS did the opposite on Wednesday: it kept its numbers broadly in line for the quarter, cut the year's profit view, and led the entire S&P 500 lower.

What's next

Attention now turns to whether FIS can show faster pro forma growth — the measure that excludes acquisition effects — and convert its maintained free cash flow target into debt reduction. Analysts entered the print split on the stock, with a consensus Hold rating and an average price target near $49 before Wednesday's collapse; revisions to those targets in the coming days will show whether Wall Street treats the cut as a one-off reset or the start of a longer slowdown. The company hosted its earnings call on Wednesday morning, and any detail on issuing volumes, bank spending and integration costs will shape the next move.

This article reports market news only and is not investment advice.

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FAQ

Why did FIS stock fall about 23% today?

FIS cut its full-year adjusted EPS guidance to $5.82–$5.89, down from $6.15–$6.24 and below the roughly $6.20 consensus, which outweighed a small third-quarter earnings beat.

Did FIS beat earnings estimates in Q3 2026?

Yes, narrowly. Adjusted EPS was $1.61 versus a $1.60 consensus, and revenue of $3.454 billion was slightly ahead of the roughly $3.43 billion expected.

Why did FIS revenue jump 27% if growth is slow?

Most of the increase came from the Total Issuing Solutions acquisition. On a pro forma basis that excludes the deal's effect, revenue grew 3.7% and recurring revenue grew 2.5%.

Are FIS and Fiserv the same company?

No. Fidelity National Information Services trades as FIS on the NYSE, while Fiserv trades as FISV on Nasdaq. They are separate payments and banking-technology companies.