IHS Markit Reports Solid Start to 2019, Q1 Revenues Jump 12%

IHS Markit, , has published its financial results for the first quarter of its 2019 financial year, which ended on February 28, 2019.
Taking a look at the results, the firm managed to increase its revenue by $114.3 million or 12 per cent year-on-year, to reach $1.046 billion. Contributing to this figure is organic revenue growth of 5 per cent.

Net income, however, fell on an annual comparison, dropping by $131.6 million or 55 per cent from $241.3 million in the first quarter of its 2018 fiscal year, down to $109.7 in the most recent quarter.

Todd Hyatt, Executive Vice President and Chief Financial Officer
Source: IHS Markit
“We are pleased with the start of the year and believe we are well positioned to deliver upon our full-year financial commitments,” commented Todd Hyatt, the chief financial officer at IHS Markit.
Financial Services Revenues Increase by 28% YoY for IHS Markit
IHS Markit revenues are comprised of the company’s four main segments – , transportation, resources and consolidated markets & solutions. The company’s financial services business offers a , including trading firms and brokerages.
For this segment, the revenue for the first quarter increased by $90 million or 28 per cent to reach $409 million. From this growth, 6 per cent was organic. Based on the results, financial services revenue contributed to around 39 per cent of total revenues for the quarter.
The financial services sector is the biggest contributor to revenues out of the four segments. The adjusted EBITDA for the first quarter also managed to increase by 26 per cent, to reach $183 million.
Lance Uggla, Chairman and CEO at IHS Markit
Source: LinkedIn
Speaking on the results, Lance Uggla, chairman and chief executive officer at IHS Markit said: “We continue to deliver strong diversified revenue growth and margin expansion while making the right level of investment to be able to sustain long-term financial returns for our shareholders.”

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