Analyst Note| Rajiv Bhatia, CFA |
During the first quarter of fiscal-year 2022, Experian saw total revenue increase 31%. A weaker U.S. dollar boosted growth by 3 percentage points. On an organic constant currency basis, revenue increased 22%. As a result of the strong performance, Experian increased its full-year revenue outlook. We are maintaining our wide moat rating and expect to increase our fair value estimate by a mid- to high-single-digit percent.