S&P Global Beats Expectations With Revenue, Profit Growth
October 26 2021 - 7:54AM
Dow Jones News
By Matt Grossman
S&P Global Inc. Tuesday posted bigger-than-expected gains in
revenue and earnings in the third quarter as sales increased across
divisions.
The New York City-based credit-ratings and data provider posted
earnings of $3.30 a share, a rise from $1.88 a share in the
year-ago quarter. Net income attributable to the company was $797
million, up from $455 million 12 months ago.
Stripping out one-time items, the company's adjusted earnings
were $3.54 a share. Analysts polled by FactSet had forecast
adjusted earnings of $3.16 a share.
Revenue rose 13% to $2.09 billion, from $1.85 billion a year
ago. Analysts were forecasting revenue of $1.99 billion.
Revenue from credit ratings grew 14% to $1.02 billion. Higher
bank-loan rating activity more than offset less issuance of
corporate bonds, S&P said.
Revenue from the S&P Dow Jones Indices business, in which
S&P owns a majority stake, climbed 28% to $298 million.
Market-intelligence revenue was up 7% to $570 million. Revenue
from the Platts energy-news business was up by 8% to $239
million.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
October 26, 2021 07:39 ET (11:39 GMT)
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