S&P Global Beats Expectations With Revenue, Profit Growth

Published: 2021-10-26 07:40:03 ET SPGI

By Matt Grossman

S&P Global Inc. Tuesday posted bigger-than-expected gains in revenue and earnings in the third quarter as sales increased across divisions.

The New York City-based credit-ratings and data provider posted earnings of $3.30 a share, a rise from $1.88 a share in the year-ago quarter. Net income attributable to the company was $797 million, up from $455 million 12 months ago.

Stripping out one-time items, the company's adjusted earnings were $3.54 a share. Analysts polled by FactSet had forecast adjusted earnings of $3.16 a share.

Revenue rose 13% to $2.09 billion, from $1.85 billion a year ago. Analysts were forecasting revenue of $1.99 billion.

Revenue from credit ratings grew 14% to $1.02 billion. Higher bank-loan rating activity more than offset less issuance of corporate bonds, S&P said.

Revenue from the S&P Dow Jones Indices business, in which S&P owns a majority stake, climbed 28% to $298 million.

Market-intelligence revenue was up 7% to $570 million. Revenue from the Platts energy-news business was up by 8% to $239 million.

Write to Matt Grossman at [email protected]

(END) Dow Jones Newswires

10-26-21 0739ET