Quarterly income jumps at London Stock Exchange Group
London Stock Exchange Group left its full-year targets unchanged on Friday, after posting a jump in quarterly income.
London Stock Exchange Group
The blue chip said it was "well positioned" for further growth, and that there was no change to guidance or targets, after third-quarter income rose by 16.2% - or by 5.9% on a constant currency basis - to £1.91bn. The figure was ahead of forecasts for around £1.88bn.
Within that, LSEG’s data and analytics business - its largest division following the 2021 acquisition of Refinitiv - reported a 4.1% jump in income, to £1.27bn. Capital markets, boosted by strong demand and heightened volatility, rose 8.6% to £369m, while post trade reported a 10.4% jump to £249m.
Group gross profit was £1.7bn, ahead 4.9% on a constant currency basis and largely in line with analyst forecasts.
David Schwimmer, chief executive, added: "We have delivered another strong quarter, with good growth across all businesses. The consistency of delivery in recent quarters demonstrates the strength of our business model, generating quality recurring revenues from a range of services that are highly valued by our customers.
"With sustained execution, a broad base of businesses and leading market positions, we remain well positioned."