Fintech company Jack Henry’s quarterly earnings climbs over 6%

(Reuters) – Jack Henry & & Associates uploaded a 6.4% increase in second-quarter earnings on Tuesday, as need for its economic modern technology solutions stayed durable.

The firm provides modern technology and repayment handling solutions mostly to tiny- and mid-size banks. Helping companies such as financial institutions and banks increase their electronic innovation campaigns.

Technology is critical for such companies to fulfill consumer needs for a smooth electronic financial experience and to complete efficiently with fintech firms.

Jack Henry’s solutions and assistance profits raised by 3.5% to $323 million in the quarter finishedDec 31, while its handling profits expanded by 7.3% to $250.8 million.

The firm’s earnings climbed to $97.8 million, or $1.34 per share, in the quarter, compared to $91.9 million, or $1.26 per share, throughout the exact same duration in 2015.

(Reporting by Jaiveer Singh Shekhawat in Bengalurul Editing by Maju Samuel)