London Stock Exchange Group Total Income Rises on Solid Growth; Backs Guidance

By Najat Kantouar

London Stock Exchange Group reported a higher total income for the first quarter driven by solid growth across the business, and said that it was on track to deliver all financial guidance.

The stock-exchange and financial-information company said Thursday that total income--excluding recoveries--for the first three months ended March 31 was 2.09 billion pounds ($2.61 billion), compared with GBP2.01 billion for the same period a year earlier.

Data and Analytics revenue rose 4.3% to GBP999 million, while capital markets revenue increased 14.4% to GBP439 million, and post trade segment revenue remained flat on an organic basis at GBP297 million.

"We continue to make strong progress in our Microsoft partnership, with a number of products expected to be in external pilot or general release this half. We are now picking up the pace of migrating our datasets onto the Microsoft platform, which will transform access to our data for customers," Chief Executive Officer David Schwimmer said.

The company reiterated its plan to return GBP1.0 billion to shareholders via buyback over the year and backed its target to grow organic revenue in mid-to-high-single digit annually, accelerating after 2024.

Write to Najat Kantouar at najat.kantouar@wsj.com

(END) Dow Jones Newswires

April 25, 2024 02:48 ET (06:48 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.