Markit Ltd. MRKT announced financial results Wednesday under International Financial Reporting Standards (IFRS) for the third quarter ended September 30, 2014.
Revenue increased by $31.3 million, or 13.1 percent from third quarter 2013, to $269.7 million, above estimates of $260.63 million.
Adjusted Earnings grew 6.2 percent to $68.7 million while Adjusted earnings per share, diluted were unchanged at $0.37 compared to third quarter 2013 and inline with estimates.
Adjusted EBITDA grew 14.5 percent to $126.8 million from third quarter 2013 with an Adjusted EBITDA margin of 47.3 percent
Organic revenue growth across all three business segments: Information (+4.8 percent), Processing (+9.4 percent) and Solutions (+13.1 percent)
“I am pleased to report strong performance this quarter,” said Lance Uggla, chairman and chief executive officer of Markit. “Our three business segments all produced solid results as customer demand for our products and services continued to grow. As the market adapts to new regulations and reporting requirements, we are focused on helping customers comply with these requirements and achieve operating efficiencies, which means we are well positioned to reach our long term financial objectives."
Markit Ltd. closed at $24.08 Tuesday, up 1.43 percent.
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