UPDATE 1-Metavante Technologies Q2 profit beats Street
* Q2 EPS $0.43 vs $0.31 yr-ago
* Revenue rose 3.6 pct
* Sees FY EPS exceeding prior view of 12-16 pct growth
July 23 (Reuters) - Metavante Technologies Inc MV.N, which provides payment processing services to financial firms, posted a quarterly profit above market expectations, helped by higher core processing and eBanking revenue, and expects full-year profit to beat its earlier forecast.
The company, which is selling itself to Fidelity National Information Services Inc (FIS.N: Cotización), posted second-quarter net profit of $51.9 million, or 43 cents a share, compared with $36.9 million, or 31 cents a share, a year ago.
Its cash net income was $58.3 million, or 48 cents a share.
Revenue rose 3.6 percent to $440.3 million.
Analysts on average expected the company to earn 34 cents a share, excluding items, on revenue of $432.9 million, according to Reuters Estimates.
The company said it expects organic revenue growth at the lower end of its earlier view of 3 percent to 4 percent and earnings per share growth to exceed the high end of its prior forecast of 12 percent to 16 percent.
Shares of the company closed at $26.75 Wednesday on the New York Stock Exchange. (Reporting by Supantha Mukherjee in Bangalore; Editing by Aradhana Aravindan)
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