Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023.
“LSEG delivered another quarter of strong, broad-based growth," LSEG Chief Executive David Schwimmer said in a statement, adding that he was confident that total income growth for the full year will be towards the upper end of a guidance range of 6% to 8%.
Data and analytics, which now make up the bulk of LSEG income, was up 7.2% year on year at 1.29 billion pounds ($1.57 billion) on improving sales, rising retention of existing customers and a higher annual price increase, LSEG said.
Organic ASV growth remains broadly around the level seen in the first and second quarters, LSEG said, adding that all 2023 guidance is reiterated, including EBITDA margin and capital expenditure.
JPMorgan Cazenove analysts said third-quarter gross profit was in line with company-compiled consensus, but "most importantly" organic ASV growth recovered after dipping to 6.9% in the second quarter.
Persons:
Toby Melville, “ LSEG, David Schwimmer, LSEG, JPMorgan Cazenove, Huw Jones, Mark Potter, Sinead Cruise
Organizations:
London Stock Exchange, REUTERS, JPMorgan, ASV, RBC, Microsoft, Thomson
Locations:
Canary Wharf, London, Britain