London Stock Exchange Group Reports Strong Growth

1 Mins read

London Stock Exchange Group (LSEG) has announced an impressive 8% increase in total income, excluding recoveries, driven by robust and widespread growth across its business segments. The company also reiterated its full-year total income guidance.

Key Metrics

Total income, excluding recoveries, reached £1.97 billion ($2.39 billion), up from £1.905 billion in the same period last year. Notably, data & analytics income grew by 7.2% to £1.30 billion, while capital markets income rose by 6.2% to £375 million. However, equities income experienced a decline of 8.3%, reflecting subdued market volumes. On the other hand, post-trade income surged by 17% to £286 million.

Recoveries mainly involve fees for third-party content, such as exchange data directly distributed to customers.

Positive Outlook

LSEG anticipates that total income, excluding recoveries, for 2023 will grow towards the higher end of the previously projected range of 6% to 8%. The company also reaffirmed its target earnings before interest, taxes, depreciation, and amortization margin of around 48%, with expected capital expenditure of approximately £750 million.

CEO’s Comments

Chief Executive David Schwimmer expressed satisfaction with LSEG’s performance, stating, “LSEG delivered another quarter of strong, broad-based growth. By developing innovative solutions that cater to our customers’ evolving business needs, we have consistently achieved growth in our data & analytics segment.” He also highlighted the acceleration of capital markets revenues, particularly Tradeweb’s increased share in global credit trading. Furthermore, Schwimmer emphasized the continued robust growth of LSEG’s post-trade businesses, which provide risk management services sought after in an uncertain macro environment.

Related posts

GitLab Stock Surges on First Ever Adjusted Operating Profit

1 Mins read
GitLab’s stock experienced a significant surge on Tuesday following the announcement of its first ever adjusted operating profit. Despite this positive development,…

Virgin Galactic Faces Stock Decline Amid Founder's Money Decision

2 Mins read
Virgin Galactic stock experienced a sharp decline in early trading on Monday due to founder Richard Branson’s announcement that he won’t be…

EyePoint Pharmaceuticals Announces Positive Results in Phase 2 Trial for Macular Degeneration Treatment

1 Mins read
EyePoint Pharmaceuticals, a Massachusetts-based company, revealed exciting news on Monday regarding the second-phase trial of its investigational treatment for macular degeneration. The…

Leave a Reply

Your email address will not be published. Required fields are marked *

4 + 5 =