Jack Henry's third-quarter profit rises on strong fintech demand
May 6 (Reuters) - Jack Henry & Associates JKHY.O 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.
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