Fintech Jack Henry beats quarterly estimates on strong demand

Aug 18 (Reuters) - Financial ‌technology firm ​Jack ​Henry & Associates beat estimates for fourth-quarter profit and revenue on Tuesday, thanks ‌to strong demand for its banking and ⁠payments offerings.

Shares of the company rose 1.9% in extended ‌trading after the results.

Here ‌are more details:

• Quarterly revenue from its services and support segment rose 2.5% versus the ​year-ago period, while processing revenue increased 7.5%.

• The Monett, Missouri-based company plays a vital ⁠role in the banking space by providing small and mid-sized ​financial institutions with technology and payment processing services to handle their day-to-day operations.

• "Technology ​spending remains strong, which is ‌reflected in our robust sales pipeline as we continue to provide innovative ⁠solutions and expand the use of artificial intelligence," CEO Greg Adelson said.

• "As we enter fiscal 2027, ⁠we are well positioned to continue driving consistent revenue ​growth, margin expansion, and long-term value," he added.

• The company reported a profit of $1.57 per share in the ‌three months ended June 30. Analysts on average had expected a profit ‌of $1.46 per share, according to estimates compiled by ⁠LSEG.

• Fourth-quarter revenue ‌of roughly $644 million ​also beat estimates of $630.8 million.

(Reporting by Manya Saini in Bengaluru; Editing by Diti ‌Pujara)

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