S&P Global (SPGI) Tops Q1 EPS by 3c, Beats on Revenues
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S&P Global (NYSE: SPGI) reported Q1 EPS of $2.00, $0.03 better than the analyst estimate of $1.97. Revenue for the quarter came in at $1.57 billion versus the consensus estimate of $1.53 billion.
Net income increased 23% to $491 million and diluted earnings per share increased 26% to $1.93 as a result of revenue growth, operating leverage and U.S. tax reform. Adjusted net income increased 21% to $509 million and adjusted diluted earnings per share increased 24% to $2.00. The adjustments in the first quarter of 2018 were for deal-related amortization.
"We are off to a solid start to 2018 despite weak bond issuance and the return to volatility. In fact, the volatility led to record exchange-traded derivatives revenue in our Index business. And our Ratings business was able to navigate the weak bond issuance and deliver top-line growth," said Douglas L. Peterson, President and Chief Executive Officer of S&P Global. "During the quarter, we added to our capabilities for success in the future through the acquisitions of Panjiva and Kensho. These are examples of unique companies that enhance our strong analytical foundation with world-class talent and cutting-edge artificial intelligence technologies."
For earnings history and earnings-related data on S&P Global (SPGI) click here.
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