Strong Banking Business Performance
Banking revenue grew 6%, exceeding expectations due to improved commercial excellence and strong client retention. Recurring revenue growth was particularly strong at 7%.
Strategic Acquisitions and Divestitures
The acquisition of Global Payments Issuer business and sale of the Worldpay stake are on track, aligning with operational simplification strategy and expected to significantly enhance free cash flow.
Increased Shareholder Returns
Returned $460 million to shareholders through share repurchases and dividends, remaining on track to meet the $1.2 billion target for the year.
Product Innovation and AI Integration
Launched Money Movement Hub and expanded it to include digital assets through a partnership with Circle Internet Group. AI initiatives like TreasuryGPT and Banker Assist are gaining traction.
Improved Full Year Outlook
Raised full-year revenue, adjusted EBITDA, and adjusted EPS targets. Expecting revenue growth of 4.8% to 5.3% and double-digit EPS growth of 10% to 11%.