Copyright Reuters
Sign up here. Jack Henry's revenue jumped 7.3% to $644.7 million during the first quarter. Revenue from services and support increased 5.7%, while processing rose 9.7%. Net income was at $144 million, or $1.97 per share, during the three months ended September 30, compared with $119.2 million, or $1.63 per share, a year earlier. Bank tech stocks have weakened this year amid investor concerns over increased financial institution consolidation and competitive threats, analysts have said. They see the selloff in bank tech stocks as an opportunity for investors, given their business models benefit from a large base of recurring revenue. Jack Henry's shares were up more than 4% after the bell. They have slipped 13% so far this year. The company expects fiscal 2026 revenue to be between $2.49 billion and $2.51 billion, compared with its prior forecast of $2.48 billion to $2.50 billion. It expects annual profit per share in the range of $6.38 and $6.49, compared with $6.32 to $6.44 projected earlier. Reporting by Pritam Biswas and Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar
