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.
Source: 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.
Source: LinkedIn
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