London Stock Exchange Group said on Thursday that its income rose a better-than-expected 9.5% in the third quarter versus a year earlier, helped by higher annual subscription value.
LSEG’s total income, excluding recoveries, came in at 2.12 billion pounds ($2.74 billion) in the three months to September 30 on a constant currency basis, topping a company-compiled analysts’ consensus of 2.10 billion pounds.
Annual subscription value (ASV), which reflects recurring revenue and is closely watched by analysts, increased 6% in the quarter and the company said it expected ASV growth to remain around 6% for the rest of this year.
However, LSEG said it saw a small impact from cancellations related to Swiss bank Credit Suisse in the period.
In its first quarter, LSEG had said its annual subscription value was hit by UBS’s forced takeover last year of Credit Suisse, which reduced demand for LSEG products, but that the full impact of the deal was still to come.
Source : Reuters
The weak performance of business investment across the OECD since the Global Financial Crisis holds…
The US dollar has dominated the international monetary system since the end of Bretton Woods.…
Solid waste is one of the most visible by-products of human prosperity—and one of the…
Climate mitigation investment increases with long horizons, economic scale and investor diversity, underscoring long-term capital…
China is relatively inured to the Iran conflict, but less external demand could hit its…
The composition of international reserves is in a constant state of flux. This column identifies…