SPGI S&P Global Inc

By Dean Seal

S&P Global Inc. reported a smaller profit but higher revenue in the third quarter as the effects of its merger with IHS Markit continues to boost top line growth.

The New York-based credit-ratings and data provider posted a profit of $608 million, or $1.84 a share, compared with $797 million, or $3.30 a share, in the same quarter a year ago.

Stripping out one-time items, adjusted earnings were $2.93. Analysts polled by FactSet had been expecting $2.80.

Revenue came in at $2.86 billion, up from $2.09 last year. Analysts had been expecting $2.92 billion, according to FactSet.

The company said its revenue was lifted this quarter by the inclusion of the IHS Markit businesses it acquired in a merger that closed earlier this year. Revenue from its ratings business declined during the quarter due to a sharp drop in debt issuance.

Shares slipped 0.9%, to $308.80, in premarket trading.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

October 27, 2022 07:41 ET (11:41 GMT)

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