Jack Henry sees annual profit above estimates on strong fintech demand
Aug 20 (Reuters) -Jack Henry JKHY.O forecast fiscal 2025 profit above Wall Street estimates on Tuesday, on resilient demand for the financial technology company's products and services.
Robust demand despite an uncertain economic backdrop has powered growth for financial technology and payments companies in areas such as lending, consulting, payments, and digital banking.
"We produced record revenue and operating income in fiscal year 2024 along with our highest-ever sales bookings in both the fourth quarter and fiscal year. Technology spending remains robust with significant demand," said CEO Greg Adelson in a statement.
Jack Henry sees fiscal 2025 profit per share between $5.78 and $5.87. Analysts on average had expected $5.76 per share, according to LSEG data.
The Monett, Missouri-based company, which provides software and services primarily to banks, credit unions, and other financial institutions, said revenue rose 4.7% to $559.9 million in the April-to-June period.
Services and support revenue increased 1.5% in the reported quarter primarily driven by growth in data processing and hosting revenue, while processing revenue climbed 9.2%.
The company reported net income of $1.38 per share in the quarter ended June 30, compared with $1.34 per share a year earlier.
Reporting by Manya Saini in Bengaluru; Editing by Shailesh Kuber
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
