FIS Shares Plunge 24% After Earnings Report

Fidelity National Information Services stock fell sharply after third-quarter results and the departure of its chief financial officer.

Updated on Nov. 4, 2026 in Corporate Finance

FIS Shares Plunge 24% After Earnings Report

Fidelity National Information Services shares plunged 24.4% in trading on November 4, 2026, after the company reported third-quarter results. Revenue rose 26.8% to $3.45 billion, while the company also announced that CFO James Kehoe is stepping down.

Why it matters

Much of the revenue growth came from the acquisition of Global Payments' issuer solutions business, and the company's organic growth is slowing under new debt used to fund that deal. Fourth-quarter guidance shows deceleration from third-quarter growth rates, which may have driven the sell-off.

Shares fell 24.4% in trading on November 4, 2026, leaving Fidelity National Information Services trading at just over five times this year's adjusted earnings estimates. The company carries more than $14 billion in net debt, and its fourth-quarter guidance projects 3.4% pro forma organic revenue growth for the full year.

The players

Fidelity National Information Services

Fidelity National Information Services is a major financial technology and payments company whose shares fell sharply after its third-quarter report.

James Kehoe

James Kehoe is the chief financial officer of Fidelity National Information Services, who is stepping down from the role.

The details

Fidelity completed its $13.5 billion acquisition of Global Payments' issuer solutions business in January, which drove much of the third-quarter growth. Adjusted non-GAAP earnings per share rose 6.6% to $1.61, and the company guided to 3.3% adjusted EBITDA growth at the midpoint for the full year.

January 2026: Fidelity completed the $13.5 billion Global Payments issuer solutions acquisition.
November 4, 2026: Fidelity reported third-quarter earnings and shares plunged 24.4%.

Corporate Finance Context

Fidelity's $13.5 billion acquisition of Global Payments' issuer solutions business in January 2026 accounts for much of the company's reported revenue growth. The deal's new debt now weighs on organic growth, a pattern that leaves the company more exposed when guidance decelerates.

Investors holding FIS shares now face a stock trading at roughly five times adjusted earnings estimates, with more than $14 billion in net debt to consider. Retail investors should weigh the slowing organic growth against the company's guidance before making allocation decisions.

The takeaway

Acquisition-driven revenue growth can mask slowing organic growth, so investors should look at guidance and debt levels alongside headline results. Checking how much of a company's growth comes from deals versus its core business can clarify where the risk sits.