Third quarter revenue increased 5 percent on a reported basis to $1.50 billion from $1.44 billion a year earlier. GAAP net earnings from continuing operations attributable to common stockholders increased to $175.6 million, or $0.60 per diluted share, up from $147.8 million, or $0.50 per diluted share, in the year-ago quarter.

Third quarter revenue increased 5 percent on an organic basis, which excludes the impact of acquisitions and changes in foreign currency, from the 2012 third quarter. Non-GAAP adjusted net earnings from continuing operations attributable to common stockholders increased to $218.0 million from $187.5 million in the third quarter of 2012. Adjusted net earnings per diluted share increased 17 percent to $0.74 from $0.63 in the third quarter of 2012.

"By any measure, the third quarter was another very good quarter for FIS as we delivered on all key metrics of growth, profitability and cash generation," said Frank Martire, chairman and CEO of FIS. "This performance is a direct result of the deep relationships that we have with our clients, the benefits of being a global company, and consistent execution by all of our employees."

For the nine months, FIS posted revenue of $4.49 billion, a 4 percent increase from $4.31 billion in the prior-year period. GAAP net earnings from continuing operations attributable to common stockholders increased to $414.8 million, or $1.41 per diluted share. This included debt-refinancing costs and an adjustment related to the December 2010 acquisition of Capco that together totaled $0.28 per share, which were partially offset by a $0.02 gain from the purchase of the remaining interest in shares of mFoundry. GAAP net earnings from continuing operations for the prior-year period were $1.33 per share and included $0.08 per share in debt-refinancing costs, charges for accelerated vesting of certain equity grants and other compensation costs.

For the first nine months of 2013, FIS posted organic revenue growth of 4 percent, a 12 percent increase in adjusted net earnings from continuing operations and a 14 percent rise in adjusted net earnings per share from continuing operations compared to the prior-year period.

Non-GAAP Results
Organic revenue growth was 5 percent in the third quarter. EBITDA increased 6 percent to $470.0 million, as adjusted, from $442.2 million a year earlier. EBITDA margin expanded 50 basis points to 31.3 percent from 30.8 percent a year ago, reflecting favorable revenue mix and disciplined cost management.

Organic revenue growth for the first nine months of 2013 was 4 percent. EBITDA increased 6 percent to $1.35 billion, as adjusted, and EBITDA margin expanded 40 basis points to 30.0 percent.

Definitions of non-GAAP financial measures and reconciliations of non-GAAP measures to related GAAP measures are provided in subsequent sections of the press release narrative and supplemental schedules.

Segment Information

The following discusses third quarter results by segment:

Financial Solutions:
Revenue increased 2 percent to $578.6 million from $565.7 million a year earlier and rose 1 percent on an organic basis, driven by growth in consulting and digital delivery channels. Higher termination fees also contributed to third quarter 2013 results.

EBITDA increased 7 percent to $239.4 million from $224.4 million a year ago. EBITDA margin expanded 170 basis points to 41.4 percent.

Payment Solutions:
Revenue increased 4 percent to $601.7 million from $576.1 million in the 2012 quarter, reflecting growth in document output solutions, card loyalty programs and payment network solutions. Strong software license sales and higher termination fees also contributed to the performance in the third quarter. Revenue from the check-related businesses, which benefited from strong growth in software license sales in the third quarter, was $114.9 million, up from $107.0 million in the 2012 third quarter.

EBITDA increased 9 percent to $255.0 million from $234.6 million a year earlier. EBITDA margin expanded 170 basis points to 42.4 percent.

International Solutions:
Revenue increased 9 percent to $321.7 million from $295.5 million in the 2012 quarter. Revenue rose 12 percent on an organic basis. All regions delivered double-digit organic growth in the quarter.

EBITDA increased 14 percent to $81.3 million from $71.4 million in the prior-year quarter. EBITDA margin expanded 110 basis points to 25.3 percent.

Corporate/Other:
Corporate costs, as adjusted, were $105.7 million in the third quarter 2013, up from $88.2 million in the prior-year quarter. The increase reflected higher incentive compensation and health-care costs.

Interest expense, net of interest income, declined to $43.7 million in the most recent quarter from $54.0 million a year earlier.

The non-GAAP effective tax rate was 33.4 percent in the third quarter, compared to 34.0 percent a year earlier.

Balance Sheet and Cash Flow

Cash and cash equivalents totaled $811.6 million as of Sept. 30, 2013. Debt outstanding totaled approximately $4.8 billion.

Net cash provided by operations increased to $311.1 million in the third quarter from $255.4 million in the 2012 quarter. Capital expenditures increased to $81.6 million from $70.7 million a year earlier. Free cash flow was $229.5 million for the most recent quarter, an increase from $193.2 million a year ago.

In the third quarter, FIS repurchased approximately 2.7 million common shares at a total cost of approximately $125 million and an average cost of $46.69 per share. The company repurchased approximately 8.2 million shares in the first nine months of 2013 at a total cost of approximately $350 million. About $300 million remains under the existing share repurchase authorization.

2013 Outlook

FIS' updated outlook for full-year 2013 is as follows:

• Revenue growth of 4 to 5 percent on both a reported and organic basis
• EPS from continuing operations of $2.80 to $2.87, as adjusted, an increase of 12 to 15 percent compared to $2.50 per share in 2012
• Free cash flow is expected to approximate adjusted net earnings, consistent with prior guidance