IHS Markit Sees 15% YoY Increase in Revenue in Q2 2021
IHS Markit (NYSE: INFO), a data and information provider to the financial services industry, has released its financial results for the second quarter of fiscal year 2021, ending on May 31, showing a YoY increase of 15% in revenue.
More specifically, the company registered a revenue of $1.181 billion, 15% higher than the previous year, with 13 percent total organic revenue growth. Net income came in at $159 million. Diluted earnings per share (EPS) amounted to $0.40, and Adjusted EPS reached $0.81. Adjusted EBITDA totaled $517 million. In addition, cash flow from operations recorded $372 million and free cash flow aggregated $301 million.
As for segment results, Second quarter revenue for Financial Services increased $50 million, or 11 percent, to $493 million, and included 9 percent total organic growth. Second quarter Adjusted EBITDA for Financial Services increased $7 million, or 3 percent, to $238 million.
Commenting on these results, Lance Uggla, chairman and chief executive officer at IHS Markit, said, “We had another strong quarter as all of our end markets continue to recover and our teams execute at a high level.”
“Our strong Q2 and first half results were in-line with our expectations and we remain on track to deliver strong full year results,” added Jonathan Gear, chief financial officer at IHS Markit.
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