LONDON, Aug 1 (Reuters) - London Stock Exchange Group ( LDNXF )

reported first half income above analysts' consensus on

Thursday, and a rise in annual subscription value, saying it was

sticking with its medium-term earnings growth guidance.

LSEG's total income excluding recoveries in the first half

of 2024 was 4.204 billion pounds ($5.40 billion), up 5.4% on the

the first half of 2023, and above analysts' consensus of 4.195

billion pounds.

Operating profit in the first half rose 9% to 1.563 billion

pounds, with adjusted earnings per share of 174 pence, up 8.1%

on the same period last year, both ahead of analysts' consensus

estimates collated by LSEG.

Annual subscription value (ASV), which reflects recurring

revenue and closely watched by analysts, was up 6.4% at June

2024, in line with guidance, and up from 6% in the first

quarter.

"We are also delivering efficiency improvements, with

underlying margin improving year-on-year despite ongoing

investment, and we expect this trend to continue," LSEG CEO

David Schwimmer, said in a statement.

"We look forward to further progress in the second half of

the year, and are reiterating all of our medium-term guidance."

LSEG said its partnership with Microsoft ( MSFT ) is "approaching

commercialisation" as the first product becomes more widely

available by year-end.

The exchange, transformed into a data powerhouse after

its $27 billion acquisition of Refinitiv in 2021, reiterated all

medium-term guidance of mid to high single digit organic revenue

growth annually, accelerating after this year.

LSEG said its recently announced content agreement with

Dow Jones creates a leading news offering across its platforms.

LSEG pays Reuters for news.

($1 = 0.7785 pounds)