On February 4, Jack Henry & Associates reported a 6.4% increase in second-quarter profit, attributing it to the sustained demand for its financial technology services.
Specializing in providing technology and payment processing services to small- and mid-size financial institutions, the company assists banks and financial firms in advancing their digital transformation efforts. In today's competitive landscape, technological advancements play a pivotal role in meeting customers' expectations for seamless digital banking experiences and in effectively competing with fintech companies.
During the quarter ending December 31, Jack Henry's services and support revenue rose by 3.5% to $323 million, while its processing revenue saw a 7.3% growth to $250.8 million. The company's profit reached $97.8 million, or $1.34 per share, representing an increase from $91.9 million, or $1.26 per share, in the corresponding period the previous year.