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FIS 1Q net income jumps 65 pct

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JACKSONVILLE, Fla. (AP) — Fidelity National Information Services Inc. said Tuesday that its first-quarter net income jumped 65 percent, helped by higher revenue at its financial solutions business.

The payments technology company, known as FIS, reported a profit attributable to common shareholders of $144.1 million, or 49 cents per share, up from $87.1 million, or 29 cents per share, in the same quarter of 2012.

Excluding one-time items, the company said its adjusted earnings from continuing operations was 62 cents per share.

Revenue rose 5 percent to $1.48 billion from $1.41 billion.

Analysts, on average, expected earnings of 61 cents per share on $1.47 billion in revenue, according to FactSet.

Revenue at the company's financial solutions business rose 7 percent to $575 million, helped by increases in consulting revenue, global commercial services and online banking solutions.

Meanwhile, payment services revenue rose 2.5 percent to $612 million and international services revenue increased 5 percent to $292 million.

FIS backed its full-year adjusted earnings prediction of $2.77 to $2.87 per share on revenue growth of 4 percent to 6 percent. Based on the company's 2012 revenue, the guidance implies 2013 revenue of $6.04 billion to $6.16 billion.

Analysts expect a profit of $2.81 per share on $6.09 billion in revenue, according to FactSet.

Shares of Jacksonville, Fla.-based FIS rose $1.33, or 3.3 percent, to $42 in morning trading after rising to a new high of $42.25 earlier in the session.

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