financetom
Business
financetom
/
Business
/
S&P Global forecasts annual profit above estimates on strong demand for its offerings
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
S&P Global forecasts annual profit above estimates on strong demand for its offerings
Feb 11, 2025 5:20 AM

Feb 11 (Reuters) - S&P Global ( SPGI ) on Tuesday

forecast 2025 adjusted earnings per share above Wall Street

estimates, as the financial information company anticipated

increasing demand for its data and analytics offerings amid

macroeconomic uncertainty.

Demand for market analytical tools has risen as investors

try to capture alpha in a post-U.S. election market rally over

anticipation of deregulation and tax cuts under the Trump

administration.

The New York-based company, which is the largest credit

ratings agency in the U.S., also announced a $650 million

accelerated share repurchase program.

Shares of S&P Global ( SPGI ) rose 3.4% in premarket trading.

The company forecast an annual profit of $17.00 to $17.25

per share, above analysts' estimate of $16.92, according to data

compiled by LSEG.

Revenue from S&P's Ratings segment, which provides credit

ratings, research and analytics to investors, jumped 27% to

$1.06 billion in the three months ending December 31.

Revenue from the Market Intelligence unit - S&P Global's ( SPGI )

biggest segment that provides data and analytics to investment

professionals, corporations and government agencies - rose 5% to

$1.19 billion.

Total quarterly revenue jumped 14% to $3.59 billion.

The company reported an adjusted profit of $3.77 per share,

surpassing analysts' expectation of $3.48 per share.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Qualcomm Maintains Long-Term Pattern Favoring Upside Trade in Wake of Earnings-Driven After-Hours Moves
Qualcomm Maintains Long-Term Pattern Favoring Upside Trade in Wake of Earnings-Driven After-Hours Moves
May 1, 2024
06:00 AM EDT, 05/01/2024 (MT Newswires) -- Qualcomm ( QCOM ) historically favors narrowing its downside performance between its earnings-driven after-hours declines and the following day's regular session. On the upside, it consistently adds to gains the following day. QCOM has recorded an after-hours gain in 37 of the quarters we've tracked, widening its direction (adding to its after-hours gains...
DuPont beats profit estimates on strength in electronics and chips unit
DuPont beats profit estimates on strength in electronics and chips unit
May 1, 2024
May 1 (Reuters) - Industrial materials maker DuPont de Nemours ( DD ) beat Wall Street estimates for first-quarter profit on Wednesday, as it benefited from higher sales in its electronics and semiconductors segment. Chemicals companies had resorted to cost cuts and destocking last year due to low demand in key markets. But the overall manufacturing output is now improving....
Carlyle Group reports 59% jump in Q1 earnings
Carlyle Group reports 59% jump in Q1 earnings
May 1, 2024
NEW YORK, May 1 (Reuters) - Carlyle Group ( CG ) said on Wednesday its first quarter distributable earnings jumped nearly 59% year-on-year driven by strong asset sales across its private equity portfolio. Distributable earnings, which represents the cash used to pay dividends to shareholders, rose to $431.3 million compared with $271.6 million a year earlier. That translated to after-tax...
Ford recalls 242,669 US vehicles, NHTSA says
Ford recalls 242,669 US vehicles, NHTSA says
May 1, 2024
May 1 (Reuters) - Ford is recalling 242,669 units of its 2022-2024 Maverick vehicles over the failure of rear tail lights to illuminate, causing it to reduce the vehicle's visibility, the National Highway Traffic Safety Administration (NHTSA) said on Wednesday. ...
Copyright 2023-2025 - www.financetom.com All Rights Reserved