WASHINGTON (dpa-AFX) - S&P Global Inc. (SPGI) reported Thursday that its first-quarter net income attributable to the company fell 36 percent to $795 million from last year's $1.24 billion.
Earnings per share dropped 45 percent to $2.47 from $4.47 a year ago.
The decrease in earnings primarily was due to the prior year's gain on sale of CUSIP.
Adjusted net income remained relatively unchanged at $1.01 billion compared to non-GAAP pro forma adjusted net income. Adjusted earnings per share were $3.15, compared o $2.89 last year.
On average, 17 analysts polled by Thomson Reuters expected earnings of $2.91 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue for the quarter climbed 32 percent to $3.16 billion from last year's $2.39 billion, primarily due to the inclusion of IHS Markit businesses. Revenue increased 3 percent compared to pro forma revenue, or 4 percent on a constant-currency basis.
The Street expected revenues of $3.07 billion for the quarter.
Looking ahead for fiscal 2023, the company projects reported earnings in a range of $8.65 to $8.85, and revenue to increase 10 percent to 12 percent.
Further, the company continues to expect adjusted earnings per share in the range of $12.35 to $12.55, and revenue to increase in the range of 4 percent to 6 percent relative to pro forma revenue.
Analysts are looking for earnings of $12.48 per share for the year.
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