IHS Markit Sees 9% YoY Increase in Revenue in Q3 2021

IHS Markit (NYSE: INFO), a data and information provider to the financial services industry, has released its financial results for the third quarter of fiscal year 2021, ending on August 31, indicating an increase in revenue on a year-over-year basis.

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More specifically, the company registered a revenue of $1.181 billion, showing a YoY increase of 9%. Net income for the quarter stood at $161 million, down by 1% compared to the same period in 2020. EBITDA came in at $516 million, 6% higher than the prior year.

In addition, the diluted earnings per share (EPS) of the company for the quarter came in at $0.4, while the adjusted EPS reached $0.85. Moreover, the cash flow from operations grew 4 percent to $421 million, along with a 2 percent jump in free cash flow to $344 million.

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As for segment results, third quarter revenue for Financial Services increased by 8 percent, while activities in transportation climbed by 15 percent. Revenue from consolidated markets and solutions climbed by 11 percent, but resources saw a marginal decline of 1 percent.

“We had another great quarter and we expect to finish the year strong. I am very proud of our team’s execution and partnership with our customers as we manage to the merger with S&P Global,” commented Lance Uggla, Chairman and CEO at IHS Markit.