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Why Jack Henry Stock Was Down Today

TheMotleyFool

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Why Jack Henry Stock Was Down Today: https://g.foolcdn.com/editorial/images/744390/financial-markets-magnifying-glass.jpg

Shares of Jack Henry & Associates (NASDAQ: JKHY) were down 8% as of 10:59 a.m. ET on Wednesday following earnings results for the fiscal fourth quarter of 2023 (which ended in June).

The financial technology company delivered a solid fiscal fourth-quarter earnings report for 2023, with revenue and profits growing consistent with historical trends. But the company offered lower-than-expected earnings guidance for fiscal 2024.

Jack Henry finished fiscal 2023 on a high note. Revenue grew 7% for the full year, while fourth-quarter revenue was up 11% year over year. Growth was driven by solid revenue increases in services and support, in addition to higher revenue from payment processing.

Source Fool.com

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