Fidelity National Information Services, Inc. — 2024 Q1

Good afternoon, everyone, and thank you for joining us today for the FIS First Quarter 2024 Earnings Conference Call. This call is being webcasted. Today's news release, corresponding presentation and webcast are all available on our website at fisglobal.com. On the call with me today are Stephanie Ferris, our CEO and President; and James Kehoe, our CFO. Stephanie will begin the call with a strategic and operational update, followed by James, who will review our financials.

Thank you, George, and thank you, everyone, for joining us this afternoon. I'm pleased to report that 2024 is off to a very strong start. We're outperforming on our financial commitments to shareholders, experiencing solid new sales momentum and leveraging our strong capital position to aggressively return capital to shareholders while also investing for growth.

Thank you, Stephanie, and hello, everyone. We are very pleased with our performance in the first quarter, and our successful cash management and tax initiatives have allowed us to meaningfully raise our full year EPS outlook. On a continuing operations basis, adjusted revenue growth accelerated to 3% compared to flat in the fourth quarter of 2023. The adjusted EBITDA margin expanded by 200 basis points year-over-year, primarily reflecting cost optimization initiatives, which boosted margins in the Banking segment.