Jack Henry's third-quarter profit rises on strong fintech demand

(Reuters) - Jack Henry & Associates posted about a 28% rise in third-quarter profit on Tuesday, helped by strong demand for the financial technology company's products and services.

The Monett, Missouri-based company offers a range of services from payment processing to business process automation primarily to small- and mid-size financial institutions, helping them to streamline operations and improve efficiency as digital banking picks up pace.

Jack Henry's services and support revenue increased 8.5% to about $330.8 million during the quarter ended March 31, while its processing revenue increased 8.9% to $254.3 million.

The company's profit rose to $111.1 million, or $1.52 per share, during the period, from $87.1 million, or $1.19 per share, a year earlier.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shilpi Majumdar)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Factbox-Tesla's China operations, the EV maker's global production powerhouse
• Soccer-Newcastle manager Howe steps down with immediate effect say media reports
• Most Australian teens still on social media three months after under-16 ban began, study finds