Oct 24 (Reuters) - Financial information company S&P

Global ( SPGI ) raised its annual profit forecast on Thursday

and beat Wall Street estimates for third-quarter profit on

strong demand for its data and analytics products.

WHY IT'S IMPORTANT

Expectations of further interest-rate cuts kept investors

confident in the health of the U.S. economy and boosted demand

for market-related analytical tools for better investment

choices, helping firms such as S&P Global ( SPGI ) and Moody's .

BY THE NUMBERS

S&P Global ( SPGI ) now expects its 2024 adjusted earnings per share

between $15.10 and $15.30, compared with the prior view of

$14.35 to $14.60.

The company reported an adjusted profit of $1.21 billion, or

$3.89 per share, in the three months ended Sept. 30, up from

$1.02 billion, or $3.21, a year earlier.

Analysts on average estimated an adjusted profit of $3.64

per share, according to data compiled by LSEG.

The market intelligence unit, S&P Global's ( SPGI ) biggest segment

in terms of revenue that provides data and analytics, posted a

6% rise in its third-quarter revenue of $1.16 billion from a

year ago.

Revenue from the company's ratings segment, which provides

credit ratings, research and analytics to investors, rose 36% to

$1.11 billion.

The company's mobility business, which focuses on vehicle,

market and consumer data for original equipment manufacturers,

reported a 9% rise in quarterly revenue.

S&P Global's ( SPGI ) total third-quarter revenue increased 16% to

$3.58 billion.

CONTEXT

The New York-based company provides credit ratings,

benchmarks, analytics and workflow solutions in the global

capital, commodity and automotive markets.

S&P Global Ratings had agreed to pay $20 million in civil

penalties to settle U.S. Securities and Exchange Commission

charges for breaking record-keeping rules, Reuters reported in

September.

Peer Moody's Corp on Tuesday also reported a rise in

third-quarter profit on the back of strong product demand.