UPDATE: IHS Posts Upbeat Q4 Profit
IHS (NYSE: IHS) reported an upbeat fourth-quarter profit.
IHS projects FY14 total revenue of $2.17 to $2.23 billion and an adjusted profit of $5.50 to $5.85 per share. However, analysts projected a profit of $5.58 per share on revenue of $2.2 billion.
IHS posted its quarterly net income at $40.8 million, or $0.60 per share, versus a year-ago profit of $46.4 million, or $0.69 per share. Excluding items, it earned $1.46 per share, versus analysts' estimates of $1.27 per share.
Its revenue climbed 35% to $559.7 million, while subscription revenue jumped 38%. However, analysts were projecting revenue of $534.8 million.
IHS shares closed at $116.02 yesterday.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.